How it works

Here’s a comprehensive breakdown of how Magma functions, step by step:

1. Onboarding the Building

• Digital Twin Creation: The process begins by creating a Digital Twin of the physical building. This can be done by importing existing 3D models or by having Magma’s team create a new 3D model of the property. This digital replica includes detailed architectural elements and structural data, providing a comprehensive virtual representation of the building.

• Stakeholder Integration: All relevant stakeholders—asset managers, property managers, facility managers, architects, notaries, service providers, visitors, and financial institutions—are invited to join the DTT® of the building by the building's Owner (or Asset Manager if the Owner delegated his rights). A wallet is created for each and they are all assigned specific roles and permissions to interact with the building’s data and the Digital Twin.

2. Creating the Digital Twin Token (DTT®)

• Document Upload: Stakeholders upload documents related to the building, such as the title deed, construction permits, architectural plans, financial statements, and technical diagnostics. These documents are organized in the building’s dataroom.

• Validation Process: Once documents are uploaded, they undergo a validation process by the stakeholders. This involves verifying that each document is the correct version, contains accurate information, and is appropriately linked to the relevant aspects of the building.

• Blockchain Hashing: After validation, a unique hash for each document is generated. This hash is then recorded on the blockchain, ensuring flawless traceability with an immutable history of the building’s documentation. The blockchain serves as a transparent and secure ledger, preventing any unauthorized modifications to the building’s data.

• Minting the DTT®: The Digital Twin Token (DTT®) is minted after the initial batch of documents is validated and hashed. The DTT® is a unique, non-fungible and dynamic asset representing the building’s digital footprint on the blockchain. It acts as a centralized, immutable, and transparent dataroom accessible to all stakeholders.

3. Managing the Building’s Digital Twin

• 3D Viewer Interaction: Stakeholders can interact with the building’s 3D Digital Twin through Magma’s viewer. This tool allows users to explore the building in a virtual environment, making it easier to understand spatial relationships, visualize or upload and validate data.

• Object Creation and Metadata Management: a digital asset is created for each object and system of the building. These objects are linked with metadata related to the building’s systems and components, such as HVAC systems, electrical wiring, waste management, and plumbing. This dynamic feature allows the Digital Twin to evolve alongside the building, ensuring that the DTT® remains up-to-date.

• Continuous Updates: As changes occur in the building (e.g., maintenance, renovations, new certifications...), stakeholders can upload new documents and update the 3D model. Each update is validated, hashed, and recorded on the blockchain, ensuring the DTT® is always accurate and current.

4. Tokens and Stakeholder Contributions

• Building Wallet: A wallet is created for each building on Magma that holds stablecoins. These stablecoins reward stakeholders for their contributions to maintaining and updating the building’s DTT®.

• Stakeholder Rewards: When a stakeholder’s document is validated and successfully added to the DTT®, they are rewarded with stablecoins. These tokens are automatically transferred from the building’s wallet to the stakeholder’s wallet, providing a transparent and efficient way to compensate for their contributions.

5. Magma Index and Operational Efficiency

• Magma Index: The Magma Index is a proprietary metric that assesses the level of digitization of a building based on the data integrated into its DTT®. The index is composed of five levels, each representing a different aspect of the building’s documentation, from basic structural details to advanced interior designs.

• Data-Driven Insights: The Magma Index provides valuable insights into the building’s management, financial health, environmental efficiency, and occupant well-being. By analyzing the quality and quantity of the data within the DTT®, stakeholders can make informed decisions that optimize building operations and enhance its overall value.

6. Sustainability and Future-Proofing

• Environmental Impact: Magma aims to improve the eco-responsibility of real estate by addressing data asymmetry, operational inefficiencies, and environmental impacts. By maintaining a transparent, immutable, and comprehensive digital record of the building, Magma helps stakeholders make data-driven decisions that reduce waste and greenhouse gas emissions, improve resource efficiency, and enhance sustainability.

• Future Enhancements: Magma is designed to evolve with technological advancements. As new tools, integrations, and data sources become available, the platform will continuously update its features, ensuring that it remains at the forefront of real estate management innovation.