Blockchain and NFTs in Tourism: Trending Paradigm for Sustainable Growth and Digital Transformation

Non-fungible tokens (NFTs) represent a promising application of blockchain technology that can potentially disrupt various sectors, mainly tourism. While there have been conceptual discussions regarding the opportunities and challenges of utilizing NFTs for purposes such as digital souvenirs, ticketing, loyalty programs, and conservation initiatives, there remains a significant need for a robust methodological framework to assess the impact of real-world NFT implementations empirically. This paper presents the methodological foundation of ongoing research. It proposes a comprehensive approach to researching NFT initiatives within the tourism sector, which includes data collection methods, analytical techniques, and the design of a workbench for monitoring key performance indicators (KPIs). The proposed framework combines quantitative and qualitative measures to capture the complex nature of NFT adoption, including financial performance, visitor engagement, user experience, and operational efficiency. By establishing standardized protocols and metrics, the proposed methodology aims to enable cross-study comparisons and contribute to developing the best practices for leveraging NFTs in the tourism industry. The work highlights the potential of NFTs to enhance visitor experiences, generate new revenue streams, and promote destinations as tech-savvy hubs, while also addressing ethical and sustainability concerns. The conclusion emphasizes the importance of a structured approach to evaluating NFTs initiatives, which can provide valuable insights for tourism organizations seeking to innovate and remain competitive in a digital landscape. Future research should focus on validating the framework through real-world case studies, exploring additional applications of NFTs in tourism, and addressing challenges related to data availability, technological integration, and stakeholder collaboration.