The sports-oriented blockchain platform Chiliz is broadening its fan token portfolio, which currently comprises over 70 tokens, to include Solana and Base, an 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 approach. By utilizing the Omnichain Fungible Token standard, fan tokens will have a unified supply across all supported chains, thereby eliminating the need for token wrapping or fragmented liquidity.
Fan tokens represent community membership, such as a sports team's fan base, and offer exclusive rewards and voting privileges. With the upcoming FIFA World Cup, Chiliz aims to significantly increase token trading volume through this expansion, having already introduced tokens for teams like Argentina and Portugal, with more expected in June.