An ambitious smart city project is taking exciting new steps in Târgu Mureș, Romania, fueled by a multi-million-dollar investment and expanding into the world of Web3.

The city of Târgu Mureș, nestled in the heart of Romania, is actively embracing cutting-edge NeoTech’s AI-driven 3D mapping to revolutionize its urban systems. This isn’t a sudden leap – their partnership with NeoTech began back in 2022, gaining strong encouragement from local government. 

Thanks to NeoTech’s incredibly precise 3D mapping, accurate down to just 2 centimeters, the city can create detailed digital models of everything from roads and buildings to parks and utilities infrastructure. This rich data is already proving invaluable for real-world planning, allowing officials to simulate public works projects and visualize zoning changes with ease.

For a compelling example of its impact, Târgu Mureș launched an international architecture contest using NeoTech’s 3D models. Architects from around the globe were able to use this digital twin to design a brand-new parking facility entirely virtually, without ever needing to visit the city in person.

From Physical Infrastructure to Digital Revenue Streams

Now, in an exciting development, NeoTech, in collaboration with both the City Hall and Mureș County Council, is embarking on a significant expansion backed by a seven-figure agreement. This will broaden the city’s digital twin infrastructure across the entire region, establishing it as one of the most extensive municipal 3D mapping initiatives in Eastern Europe.

What’s particularly innovative is that over $100,000 in revenue generated from this latest phase of the partnership will be directly reinvested into the NEOT token ecosystem. This approach cleverly connects real-world infrastructure projects with the burgeoning digital economy, creating a loop that starts with a city contract, generates platform revenue, and flows into on-chain token buybacks and increased utility.

It’s a real-world example of how Web3 technology can effectively serve public sector objectives while simultaneously nurturing thriving tokenized ecosystems.

Strong Political Backing and a Clear Vision for the Future

Mayor Zoltan Soos has been a vocal champion of this technology, emphasizing its value in enabling the city to efficiently track investments, enhance accountability, and predict urban development, all through NeoTech’s user-friendly platform.

“We are truly impressed by the results… Now we can monitor all expenses, budgets, and investments in real time,” the Mayor shared.

This enthusiastic endorsement underscores the growing interest from public institutions in decentralized platforms that deliver tangible, practical benefits.

What Makes NeoTech Stand Out?

NeoTech brings together LiDAR scanning, AI-powered processing, and blockchain-based asset tokenization into one unified platform. Their ultra-precise, sub-2cm digital twins are not only used by city governments but also by creators of metaverse experiences, real estate companies, and virtual tourism platforms.

Key advantages include:

• Ultra-precise mapping specifically designed for smart city applications
• NFT-based asset ownership that links to real-world locations
• Tokenized infrastructure with built-in pathways for monetization
• B2B marketplace for easily licensing digital assets

The company boasts an impressive track record, having already scanned over 500 cities across seven countries, with more projects on the horizon. Unlike older Geographic Information System (GIS) platforms that often keep data locked in silos, NeoTech promotes open access, tokenized ownership, and decentralized governance. Digital assets can be readily rented, traded, or integrated into metaverse environments, all securely tied to verifiable real-world locations.

This innovative approach unlocks exciting new possibilities in diverse fields such as urban planning, digital advertising, immersive simulations, AI training datasets, and on-chain asset trading, to name just a few.

Looking to the Future

With the success story of Târgu Mureș leading the way, NeoTech is currently engaged in promising discussions with additional municipalities and private sector partners throughout Europe, the Middle East, and North America. Their vision is to further expand the smart city network and the robust on-chain economy that powers it.

As cities worldwide continue to explore forward-thinking methods for managing data, planning infrastructure, and actively engaging with their citizens, NeoTech presents a compelling and functional model.

About NeoTech

NeoTech is a pioneering company in AI-powered 3D mapping and Real World Asset (RWA) tokenization, built upon a solid foundation in enterprise geospatial solutions. Having already established successful partnerships with governments, municipalities, and businesses within Romania, NeoTech is now expanding its reach into Web3, bringing the concept of real-world asset ownership to the blockchain.