The sports-centric blockchain platform Chiliz is broadening its network 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 for hosting token trades but is now adopting an omnichain approach. This transition enables the use of an Omnichain Fungible Token standard, allowing fan tokens to exist uniformly across supported chains without the need for wrapped tokens or fragmented liquidity. Fan tokens represent community memberships, such as those of sports teams, and offer holders exclusive rewards and voting rights.
With the FIFA World Cup approaching, Chiliz aims to significantly increase token trading volumes through this expansion, building on its existing tokens for teams like Paris Saint-Germain and Manchester City.