@salikc9.near [Posted on Developer DAO Board](https://near.social/#/devgovgigs.near/widget/Post?id=376) ## Idea: Multi-Token Standard **Introduction** 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. A relevant immediate use case for TENAMINT would be creating and managing digital assets; as with a MT approach, a contract can create multiple types of tokens, each with its own properties and supply. A MT is also useful in situations where there is a need for fungible, semi-fungible, non-fungible, and other types of tokens. On NEAR, the need for such a standard is already evident ecosystem wide. Out of necessity, projects such as [Ref.Finance](https://github.com/ref-finance/ref-contracts/blob/main/ref-exchange/src/multi_fungible_token.rs) (to allow users to store liquidity shares), and [Open Forest](https://static1.squarespace.com/static/606cb05a7a012f3e0371e0a4/t/6101a0bfb3c13f3dee9ace30/1627496646450/OFP+NFT+Research+Analysis+%26+Architecture.pdf)(to distribute rewards that are generated by the project, such as carbon credits) have already had to create their own custom MT. Additionally, the F-NFT (MTS) will solve for Bridgeable NFTs, which was discussed in this [gov.near.org thread](https://gov.near.org/t/discussion-push-a-bridgeable-nft-chain-agnostic-standard/30425). This ‘Idea’ and the following solution is being brought forward by the TENAMINT team which is a blockchain enabled peer-to-peer marketplace that makes the most sought-after trading cards affordable to everyone. Every card on TENAMINT is authenticated, appraised, and vaulted before being tokenized and made available at fractional pricing. We are utilizing asset-backed digital (_phygital_) collectibles to empower fans to collect like never before. **Scope** The Multi-Token Standard (MTS) is a powerful token standard with a wide variety of potential use cases including but not limited to marketplaces, collectibles, DeFi, governance, and gaming. The standard offers a host of benefits, including streamlined ownership and transfer processes, batch management of multiple token types, and customizable configurations to suit diverse use cases. NEP-245 also offers bridging benefits, enabling seamless interoperability across multiple blockchain networks. Moreover, NEP-245 is designed for optimal gas efficiency and scalability, ensuring that it can support high-volume transactions and demanding use cases. With these features and benefits, the Multi-Token Standard (NEP-245) is an ideal next-step in token standardization on the NEAR protocol. **Proof of Demand and Supporting Documentation** The Ecosystem Needs It: 1. [OpenForest: NFT Research Analysis & Architecture](https://static1.squarespace.com/static/606cb05a7a012f3e0371e0a4/t/6101a0bfb3c13f3dee9ace30/1627496646450/OFP+NFT+Research+Analysis+%26+Architecture.pdf) 2. [Ref.Finance](https://github.com/ref-finance/ref-contracts/blob/main/ref-exchange/src/multi_fungible_token.rs) (Github: RefContracts) 3. [NFT Builder Group](gov.near.org) 4. [Rising popularity on other chains statistics](https://drive.google.com/file/d/1VF6ipD4ROqNUDmoFuHa65-gYiNv6LyhR/view?usp=sharing) **The Solution** Please click through the comment thread below to find our proposal (solution), milestones, and deliverables