It is our goal to develop and open source the Multi-Token Standard (MTS) on NEAR so that it emerges as a priority for the community and efforts are made to establish an ecosystem-wide standard.
A standard interface for a MTS that facilitates the ownership, transfer, and batch transfer of tokens, irrespective of their type, including fungible, semi-fungible, non-fungible, among other types.
Why a Multi-Token (MT) Approach Should Replace NFTs On NEAR Protocol
Currently, the NEAR Protocol does not have an established Multi-Token Standard (MTS) nor ecosystem-wide standardization. However, when looking at other third-generation blockchains such as Solana and Tezos, creating NFTs using a Multi-Token (MT) is the only option available. On Ethereum, the ERC1155 standard is increasingly being utilized for NFT collections due to its flexibility and gas efficiency.
A Multi-Token Standard (MTS) could provide significant benefits for the NEAR Protocol and its ecosystem. By adopting a MT approach over NFTs on NEAR; it has the potential to significantly decrease gas consumption and increase network throughput. Additionally, the flexibility of a MTS could allow for the creation of more complex token structures and use cases, which could spur innovation and development on the NEAR platform.
we want your feedback! It doesn’t matter if you are a buidler, a supporter, a critic, a fly on the wall, or just interested in the multi-token standard on NEAR - we welcome your feedback on the NEAR DEV GOV post here.
Thank you!
Sal (Tenamint)