Chemistry of a lubricant has significant role to play in determining it's ability to reduce friction & wear. Nanoparticles have a strong potential to improve the lubrication property of grease when they are used as additives. Nano-grease has several advantages such as improved frictional behaviour, high load bearing capacity and reduced wear, as compared to base oil grease. You may find the paper below useful in regard to your query.
Article A review on graphite and hybrid nano-materials as lubricant additives
Lubricants are about additives. What type of additives you have for specific application. For high pressure regime, additives play a crucial role in the formation of solid tribofilm in order to prevent wear.
Lubrication is a wide field including various type of products designed for different applications conditions (contact pressure, part speed, materials involved, operating temperature, etc.). Lubricants can be used as additives (oils, greases, powders, etc.) in the area of mechanical contact or can be also solid interposed among the surface in contact (coatings, films, etc.).
Concerning chemical composition of lubricants typically they must be able to form a tribo-layer interposed betweeen the surfaces in contact in order to reduce friction. Graphite, Mo,W disulphides, montmorillonite and layered silicates have special lamellar structure reducing friction. Stearates used in steel transformation melts for effect of friction heating up and form a tribolayer on the steel helping in friction reduction. Oils typically used in machining made the same work wetting the metal surface layer and helping also to extract heat in order to reduce temperature (typically increasing friction).