The sports-focused blockchain platform Chiliz is broadening its portfolio of over 70 fan tokens by integrating with Solana and Base, an Ethereum layer-2 network developed by Coinbase. Initially, Chiliz launched its own layer-1 network in 2023 to facilitate token trading but is now adopting an omnichain distribution approach. This strategy utilizes the Omnichain Fungible Token standard, allowing fan tokens to exist across multiple chains with a unified supply, thereby eliminating the need for wrapped tokens or fragmented liquidity.
Fan tokens represent digital membership in a community, such as a sports team's fan base, and offer exclusive rewards and voting rights. With the upcoming FIFA World Cup, Chiliz aims to significantly increase trading volume for these tokens by expanding to Solana and Base, building on its existing tokens for prominent soccer teams like Paris Saint-Germain, Barcelona, and Juventus.