The sports-focused blockchain company Chiliz is broadening its reach by introducing its fan tokens to the Solana and Base networks, in a move aimed at increasing trading activity. This development comes after Chiliz launched its own layer-1 network in 2023, but the company is now adopting an omnichain distribution strategy. By utilizing the Omnichain Fungible Token standard, fan tokens will have a unified supply across all supported chains, thereby eliminating the need for wrapped tokens and fragmented liquidity pools. Chiliz has developed over 70 fan tokens for various sports teams, including prominent European soccer clubs.
These tokens enable teams to engage with their fan base remotely, offering exclusive rewards and voting rights. With the FIFA World Cup approaching, Chiliz anticipates that its expansion to Solana and Base will significantly boost trading volumes for these tokens.