Enhancing Facility Management with Emerging Technologies: A Study on the Application of Blockchain and NFTs

In recent years, Facility Management has undergone significant technological and methodological advancements, primarily driven by Building Information Modelling (BIM), Computer-Aided Facility Management (CAFM), and Computerized Maintenance Management Systems (CMMS). These innovations have improved process efficiency and risk management. However, challenges remain in asset management, maintenance, traceability, and transparency. This study investigates the potential of blockchain technology and non-fungible tokens (NFTs) to address these challenges. By referencing international (ISO, BOMA) and European (EN) standards, the research develops an asset management process model incorporating blockchain and NFTs. The methodology includes evaluating the technical and practical aspects of this model and strategies for metadata utilization. The model ensures an immutable record of transactions and maintenance activities, reducing errors and fraud. Smart contracts automate sub-phases like progress validation and milestone-based payments, increasing operational efficiency. The study’s practical implications are significant, offering advanced solutions for transparent, efficient, and secure Facility Management. It lays the groundwork for future research, emphasizing practical implementations and real-world case studies. Additionally, integrating blockchain with emerging technologies like artificial intelligence and machine learning could further enhance Facility Management processes.