The commit revealed that options for Nearby Share will be integrated into Chrome OS options.
Also, the flag description says, Enables Nearby Sharing for sharing content between devices.
To use the Nearby Sharing feature, it needs to be enabled from chrome://flags.
Currently, its unknown when Google plans to launch the Nearby Sharing feature.
you might check out XDA-Devs video below that shows how the feature works on mobile devices:
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source: www.techworm.net