The sports-oriented blockchain platform Chiliz is broadening its reach by introducing its extensive collection of over 70 fan tokens to Solana and Base, a layer-2 Ethereum network developed by Coinbase. Initially, Chiliz established its own layer-1 network in 2023 to facilitate token trading but is now adopting an "omnichain distribution" approach. This method utilizes the Omnichain Fungible Token standard, enabling fan tokens to exist across multiple chains with a unified supply, thereby eliminating the need for token wrapping or fragmented liquidity pools.
Fan tokens represent digital community memberships, such as those of sports teams. Chiliz has created over 70 tokens for prominent European soccer teams like Paris Saint-Germain, Barcelona, Manchester City, and Juventus. These teams leverage tokens to engage with fans remotely by offering exclusive rewards and voting privileges.
By expanding to Solana and Base, Chiliz aims to significantly increase trading volumes for these tokens ahead of the upcoming FIFA World Cup. The platform already features tokens for the Argentina and Portugal teams, with more expected to launch in June.