Property Token

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Each property is represented as a standard ERC1155 token

Elements of the Fabrica token

id : uint256
supply : uint256
operatingAgreement : string
definition : string
configuration : string
validator : address

Ownership of tokens establishes ownership of the property

A property (defined by an id) can have a supply of 1 or multiple tokens, fungible amongst them:

• a supply of 1 means that there can only be one owner for that property
• a supply of more than 1 means that the property is owned proportionally to how the tokens are allocated. (e.g.: If you own 57 tokens of out 100 outstanding, you own 57% of the property)

Governance

The governance of the property is defined in the legal agreement linked to the NFT through the operatingAgreement property, which represents the legal firmware of the property. See our Operating Agreement.

Definition

The definition property can only be set at minting time and it's immutable. It's the core definition of what real estate property the NFT represents. See our Definition Object.

Configuration

The configuration property can be updated by the owner(s) of the NFT and it links to additional information about the property. See our Configuration Object.

Validator

Validators have a key role in bridging the standard ERC1155 interface with the reality of the processes, operations and regulatory framework to which the real property belongs. NFT owners elect a validator (identified by a smartcontract address) to take care of these duties. Validators perform continuous validation through web3 checks, county records verification, and property valuation updates. See our validator documentation for detailed information about the validation process and scoring system.