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Title	Leveraging Nfts For Sustainable Urban Finance: Challenges And Opportunities For Smart Cities
ID_Doc	35112
Authors	Dorostkar E.; Ziari K.
Year	2025
Published	Cities, 163
DOI	http://dx.doi.org/10.1016/j.cities.2025.106013
Abstract	Cities, especially those in the developing world, need new finance solutions for infrastructure and sustainable development. Non-Fungible Tokens (NFTs) present revolutionary promise by enabling new capital generation and investment modalities using blockchain technology. In this paper, we examine NFTs' use cases in smart cities, with a focus on opportunities and challenges in urban finance. A few of the main benefits include decentralized models of funding infrastructure, greater public-private partnerships and climate resilience initiatives, along with greater transparency in governance and citizen participation. Barriers to adoption still persist, including regulatory risks, market volatility, and technological limitations. Despite these, NFTs possess some significant strengths: democratizing urban investment, fostering financial innovation, and improving sustainable project development. The research provides a crucial addition to discussions on the role of digital technologies in modern city governance, most notably, their potential to bridge pressing financing gaps while advancing smart city objectives. Weighing practical concerns of implementation and possibility for transformation, the paper offers valuable insights for policymakers considering NFT-inspired responses to the financial predicaments of cities in the fast-changing digital era. © 2025 Elsevier Ltd
Author Keywords	NFT; Smart cities; Sustainable; Urban finance

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