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3 API Integrated solution

API ip-api.com

IP2Location1[ip_String] := Block[
  {
   response = Import[
     URLBuild[
      <|
       "Scheme" -> "http",
       "Domain" -> "ip-api.com",
       "Path" -> {"json", ip}
       |>
      ], "RawJSON"]
   },
  GeoLocation@Values[Query[{"lat", "lon"}, ToExpression][response]]
  ]
SetAttributes[IP2Location1, Listable]



AbsoluteTiming@
 IP2Location1@{"206.123.112.238", "151.101.1.69", "216.58.198.206", 
   "220.181.57.217", "207.123.33.126", "202.32.9.55", 
   "194.187.168.99", "134.171.75.1"}
(* {0.539081, {GeoLocation[{38.6143, -90.4444}], 
  GeoLocation[{37.7697, -122.393}], GeoLocation[{37.4192, -122.057}], 
  GeoLocation[{39.9289, 116.388}], GeoLocation[{52.52, 13.405}], 
  GeoLocation[{35.6427, 139.768}], GeoLocation[{48.8573, 2.32965}], 
  GeoLocation[{48.25, 11.65}]}} *)

API freegeoip.net

IP2Location2[ip_String] := Block[
  {
   response = Import[
     URLBuild[
      <|
       "Scheme" -> "http",
       "Domain" -> "freegeoip.net",
       "Path" -> {"json", ip}
       |>
      ], "RawJSON"]
   },
  GeoLocation@
   Values[Query[{"latitude", "longitude"}, ToExpression][response]]
  ]
SetAttributes[IP2Location2, Listable]

AbsoluteTiming@
 IP2Location2@{"206.123.112.238", "151.101.1.69", "216.58.198.206", 
   "220.181.57.217", "207.123.33.126", "202.32.9.55", 
   "194.187.168.99", "134.171.75.1"}
(* {1.32305, {GeoLocation[{28.5383, -81.3792}], 
  GeoLocation[{37.7697, -122.393}], GeoLocation[{37.4192, -122.057}], 
  GeoLocation[{39.9289, 116.388}], GeoLocation[{37.751, -97.822}], 
  GeoLocation[{35.6427, 139.768}], GeoLocation[{48.8582, 2.3387}], 
  GeoLocation[{48.25, 11.65}]}} *)

API geoip.nekudo.com

IP2Location3[ip_String] := Block[
  {
   response = Import[
     URLBuild[
      <|
       "Scheme" -> "http",
       "Domain" -> "geoip.nekudo.com",
       "Path" -> {"api", ip}
       |>
      ], "RawJSON"]
   },
  GeoLocation@
   Values[Query["location", {"latitude", "longitude"}, ToExpression][
     response]]
  ]
SetAttributes[IP2Location3, Listable]

AbsoluteTiming@
 IP2Location3@{"206.123.112.238", "151.101.1.69", "216.58.198.206", 
   "220.181.57.217", "207.123.33.126", "202.32.9.55", 
   "194.187.168.99", "134.171.75.1"}
(* {0.644036, {GeoLocation[{28.5383, -81.3792}], 
  GeoLocation[{37.7697, -122.393}], GeoLocation[{37.4192, -122.057}], 
  GeoLocation[{39.9289, 116.388}], GeoLocation[{37.751, -97.822}], 
  GeoLocation[{35.6427, 139.768}], GeoLocation[{48.8582, 2.3387}], 
  GeoLocation[{48.25, 11.65}]}} *)

3 API Integrated solution (One API call per IP)

ClearAll[IP2Location];
Options[IP2Location] = {Method -> Automatic};
SetAttributes[IP2Location, Listable]
IP2Location[ip_String, OptionsPattern[]] := 
 Block[{url, response, methodlist, method, latlon},
  methodlist = {"nekudo", "freegeoip", "ip-api"};
  method = If[
    OptionValue[Method] === Automatic || FreeQ[methodlist, OptionValue[Method]],
    RandomChoice[methodlist],
    OptionValue[Method]
    ];
  url = URLBuild@Switch[method,
     "nekudo", <|"Scheme" -> "http", "Domain" -> "geoip.nekudo.com", "Path" -> {"api", ip}|>,
     "freegeoip", <|"Scheme" -> "http", "Domain" -> "freegeoip.net", "Path" -> {"json", ip}|>,
     "ip-api", <|"Scheme" -> "http", "Domain" -> "ip-api.com", "Path" -> {"json", ip}|>
     ];
  response = Import[url, "RawJSON"];
  latlon = ToExpression@Values[
     Switch[method,
       "nekudo", Query["location", {"latitude", "longitude"}],
       "freegeoip", Query[{"latitude", "longitude"}],
       "ip-api", Query[{"lat", "lon"}]
       ][response]
     ];
  (*Echo[response,method];*)
  GeoLocation[latlon]
  ]

ClearAll[IP2Location];
Options[IP2Location] = {Method -> Automatic};
SetAttributes[IP2Location, Listable]
IP2Location[ip_String | IPAddress[ip_String], OptionsPattern[]] := 
 Block[{url, response, methodlist, method, latlon},
  methodlist = {"nekudo", "freegeoip", "ip-api"};
  method = If[
    OptionValue[Method] === Automatic || FreeQ[methodlist, OptionValue[Method]],
    RandomChoice[methodlist],
    OptionValue[Method]
    ];
  url = URLBuild@Switch[method,
     "nekudo", <|"Scheme" -> "http", "Domain" -> "geoip.nekudo.com", "Path" -> {"api", ip}|>,
     "freegeoip", <|"Scheme" -> "http", "Domain" -> "freegeoip.net", "Path" -> {"json", ip}|>,
     "ip-api", <|"Scheme" -> "http", "Domain" -> "ip-api.com", "Path" -> {"json", ip}|>
     ];
  response = Import[url, "RawJSON"];
  latlon = ToExpression@Values[
     Switch[method,
       "nekudo", Query["location", {"latitude", "longitude"}],
       "freegeoip", Query[{"latitude", "longitude"}],
       "ip-api", Query[{"lat", "lon"}]
       ][response]
     ];
  (*Echo[response,method];*)
  GeoLocation[latlon]
  ]

Do not apply this method to long lists, where Batch mode would be more efficient and less abusive to the API provider. See this other answer.