San Francisco, USA – Tue Dec 5th 2023 – Fabrica, the leading platform bringing real estate on the blockchain, and NFTfi, the leading peer-to-peer NFT lending platform, announced a partnership today to launch lending for real land on the blockchain. This partnership bridges the gap between the largest global asset class and on-chain lending markets by increasing access to credit and liquidity for property owners, while also giving lenders the opportunity to lend against an immensely valuable asset class they would otherwise have trouble accessing or underwriting.
Real estate is the US’ largest asset class at $43.5 trilllion. Bringing it to the blockchain through Fabrica supercharges an asset class that typically faces significant information asymmetry and barriers to entry in lending markets. Digital-asset-based lending via NFTfi further widens this access by unlocking capital for millions of land owners without having to go through a bank. This means that land owners with all types of credit scores and financial history can now tap into on-chain capital within minutes. This is expected to cut down hours, days, or even months of antiquated paper pushing.
Fabrica's long-standing platform lets users buy and sell real land via digital assets, removing the complexity and inefficiency of the legacy deed system. They hold over 20 licenses, operate in all 50 states and have on-boarded over 300 properties to their platform. NFTfi adds a blockchain-based and widely trusted digital asset lending infrastructure that has facilitated over $500M in peer-to-peer loans to date. The partnership lets users borrow against their properties or offer loans to landowners on either Fabrica or NFTfi in one seamless process.
Both Fabrica and NFTfi are in the business of empowering users with more flexibility and utility by providing superpowers to assets on-chain. The ability to unlock capital stuck in real world assets (RWA) is the most important upgrade to a whole asset class, and furthermore the best opportunity for the crypto industry to prove a tangible and much needed use case and onboard users at scale.
says Federico Pomi, CEO of Fabrica.
Fabrica has consistently pioneered the tokenization of real estate, showing respect and appreciation for existing regulatory frameworks. We're thrilled to integrate our robust lending platform with Fabrica, creating an innovative and unique offering in the market.
says Stephen Young, co-founder and CEO of NFTfi.
About Fabrica
Fabrica is the leading platform to tokenize real estate properties at scale. Since 2018, it has refined its model and worked closely with local and state regulators to expand to all 50 states in the US. Fabrica allows users to on-ramp, buy, sell, and get loans on real properties. Fabrica is backed by leading investors, including Mark Cuban, OpenSea, Sound Ventures (Ashton Kutcher's fund), Pioneer Fund and Urban Innovation Fund.
About NFTfi
NFTfi is the leading peer-to-peer NFT lending platform. NFTfi allows users to borrow against their NFTs or lend to borrowers in exchange for interest payments. NFTfi is backed by leading investors, including 1KX, Coinfund and Maven 11 Capital.
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