When creating material function there’s no way to specify namespace and function are basically created in the ‘global’ namespace. way name clashes will occur sooner or later. Right now I underscore function names, but that’s not very elegant. So it would be nice to have:
(min) 1 level namespace
(max) nested namespaces
for the material functions.
Hello devast3d,
There is a way to organize your functions into a category so it will show up in the “Palette” panel, as well as when you right click to search in a material under a separate header. helps to organize the functions you create, it is not quite the same as a namespace format you mentioned, but can be useful for organizing groups of functions.
If you want to use the library organizing method, I have included a picture of how it is set up below. Click on the background of the material function so no nodes are selected, and you will see the details panel shown below where you can create a Library category. Just create a category name, and make sure Expose to library is selected and your functions will show up in the category as shown.
Hope that helps! 
Well, it can be considered as 1-level namespace which I’ve mentioned in the 1st post, that is better than nothing 
Thanks for the tip.