NEAR Foundation Launches '*NEAR Name Tokens'... 'Bridging the Gap between Traditional Internet and Web3'

IconCryptoNewsTerminal Staff29 May, 2024

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NEAR Foundation Launches '*NEAR Name Tokens'... 'Bridging the Gap between Traditional Internet and Web3'

The NEAR Foundation, the organization behind the layer-1 blockchain NEAR, announced the launch of NEAR Name Tokens to bridge the gap between traditional internet infrastructure and Web3. NEAR Name Tokens are being developed in partnership with Web3 digital ID developer D3. The tokens will simplify wallet addresses that are readable across hundreds of blockchain networks into human-readable words. Instead of alphanumeric wallet addresses that typically use ".", they will use "" to differentiate them from existing .NEAR domain users. NEAR also explained that "NEAR Name Tokens are distinct from traditional domain names and instead function as unique Web3 identifiers." In the early access phase planned for early this summer, existing NEAR account holders will be given early access to claim NEAR Name Tokens with their same name*.

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