The sports-centric blockchain platform Chiliz is broadening its reach by introducing its extensive range of over 70 fan tokens to both Solana and Base, an Ethereum layer-2 network developed by Coinbase. Initially, Chiliz launched its own layer-1 network in 2023 for hosting token trades but has now opted for an omnichain distribution approach. By adopting 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 digital community memberships, such as those of sports teams, and Chiliz has developed tokens for numerous prominent European soccer teams.
These teams leverage tokens to engage with fans remotely, offering exclusive rewards and voting privileges. The expansion to Solana and Base aims to significantly increase token trading volumes, particularly with the upcoming FIFA World Cup, for which Chiliz already offers tokens for teams like Argentina and Portugal, with more expected to be announced.