The sports-centric blockchain platform, Chiliz, is broadening the availability of its over 70 fan tokens by integrating with Solana and Base, an Ethereum layer-2 network developed by Coinbase. This move follows the rollout of Chiliz's own layer-1 network in 2023, which initially hosted its token trading. However, the company is now transitioning towards an 'omnichain distribution' model. By adopting the Omnichain Fungible Token standard, fan tokens will be unified across supported chains, 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 rights. With the upcoming FIFA World Cup, Chiliz aims to significantly increase token trading volumes through this expansion, having already introduced tokens for teams like Argentina and Portugal, with more expected in June.