Google is working on a new sharing tool for Android to replace Android Beam, its current deprecated feature. From what we can tell, Fast Share is a tool that lets users share files directly to other nearby devices without internet through a combination of Bluetooth(to create a device ‘handshake’) and Wifi Direct. As a concept, it sounds pretty similar to AirDrop. The main difference between the two being that Fast Share won’t be an Apple exclusive feature.
Here are some screenshots courtesy of XDA Developers showing on this will work: