The sports-centric blockchain platform Chiliz is broadening its fan token portfolio, which currently comprises over 70 tokens, to include Solana and Base, the Ethereum layer-2 network developed by Coinbase. Initially, Chiliz launched its own layer-1 network in 2023 for token trading but is now adopting an omnichain distribution approach. This strategy enables fan tokens to exist on each supported chain with a unified supply, thereby eliminating the need for wrapped tokens or fragmented liquidity pools. Fan tokens represent digital assets that symbolize community membership, such as a sports team's fan base.
Chiliz has developed tokens for prominent European soccer teams, including Paris Saint-Germain, Barcelona, Manchester City, and Juventus. These teams leverage tokens to foster engagement among fans by offering exclusive rewards and voting rights on minor issues. With the expansion to Solana and Base, Chiliz aims to significantly boost token trading volumes ahead of the upcoming FIFA World Cup, particularly with the introduction of new tokens representing national teams like Argentina and Portugal.