Peer-to-Peer Lending

In short
A lender and a borrower agree on terms directly instead of drawing from a pool. Property tokens are standard ERC-1155 NFTs, so they can be used as collateral on peer-to-peer NFT lending venues that accept them, such as Gondi. Each venue sets its own process and terms. Fabrica's earlier in-app venue, NFTfi, has shut down; its track record is summarized under History.

In peer-to-peer lending, a lender and a borrower agree directly on loan terms, rather than drawing from a pool. Because Fabrica property tokens are standard ERC-1155 NFTs, they can be used on peer-to-peer lending venues that support the token standard and network, without a Fabrica-specific integration. For borrowing inside the Fabrica app, use the pool-based path instead.

Venues today

Venue	Status	Notes
Gondi	A good option today	External venue; its own interface, terms and default process apply.
Any NFT lending protocol that accepts ERC-1155 collateral on Ethereum	Possible	Works if the venue accepts the Fabrica collection and a lender is willing to fund.
NFTfi	Shut down	Fabrica's former in-app integration. No outstanding NFTfi loans against Fabrica properties.

Each venue decides which collections and items it accepts as collateral, and a loan needs a lender willing to fund it. Check the venue's collection eligibility before planning on it.

How a peer-to-peer loan works

The specifics belong to the venue. The general pattern is the same across them:

For borrowers

Make your property token available as collateral on the venue.
Receive offers from lenders, or accept an offer a lender has already posted.
On acceptance, the token moves into the venue's contract and the loan funds (typically stablecoins) move to your account.
Repay principal plus interest by the due date, and the token returns to you.

For lenders

Review the property on fabrica.land: its metadata, Property checks and valuation.
Make an offer with your terms: amount, interest rate, duration and currency.
Earn interest on repayment, or, on default, follow the venue's process to claim the token.

What stays the same on any venue

Custody is not ownership. While the token sits in the venue's contract, it is held in custody as collateral. The borrower keeps beneficial ownership and the right to use the property until a default is enforced. See Fabrica Trust.
Owner obligations continue. Taxes and other property obligations remain the borrower's during the loan.
Default follows the venue and the trust agreement. The venue sets the notice type and objection window; the trust agreement's provisions for secured lenders also apply. See Loan Defaults & Liquidation and Lender Protections.
After a default, the lender owns the property. A lender who claims the token becomes the beneficial owner and can hold, sell, or remove the property.

History: the NFTfi integration

Fabrica's first peer-to-peer integration was a direct, in-app one with NFTfi. The earliest loans against property tokens were originated there and ran their full course onchain: repaid, or liquidated on default. That integration has been removed and NFTfi has shut down, but it showed that the tokens work as standard collateral that outlives any single venue.

How it worked, for reference:

Offers. A Fabrica property token was automatically available as collateral. Lenders set principal, APR, duration (typically 7 to 90 days) and currency (usually USDC or ETH), and could target an offer to the current owner, to any owner, or to a specific future owner.
Financed purchases. A lender could attach an offer to a property listed for sale, so a buyer paid only the down payment and the loan started with the sale.
Default. The borrower received a Notice of Default proposing that the lender accept the collateral, with a 20-day window to repay, object, or request an accounting. If no action was taken, the lender claimed the token and became the beneficial owner.

Other venues differ in their specifics.