Yes, there could be such a fanfiction. In this kind of fanfiction, Naruto might bring his unique ninja skills to Fairy Tail. For example, his shadow clone jutsu could be used in battles in the Fairy Tail world. Maybe he would form interesting friendships with the members of Fairy Tail, like with Natsu. They could learn from each other's fighting styles and grow together in the new story setting.
There might be such a fanfiction. Naruto's determination and strong will would fit well in the Fairy Tail universe. He could participate in the guild's quests, using his chakra-based powers. It would be exciting to see how he interacts with the magic - based characters in Fairy Tail. He might even teach some of his ninja knowledge to the wizards there, creating a whole new dynamic in the guild.