The sports-centric blockchain platform Chiliz is broadening its fan token offerings to include Solana and Base, the layer-2 Ethereum network developed by Coinbase, thereby expanding its existing roster of over 70 fan tokens. Initially, Chiliz introduced its own layer-1 network in 2023 for the express purpose of hosting token trades, but it is now adopting an omnichain distribution model. According to the company, this new approach, announced on X, will utilize the Omnichain Fungible Token standard, allowing fan tokens to exist uniformly across multiple chains without the need for wrapped tokens or fragmented liquidity pools. Fan tokens, which represent community membership, such as a sports team's fan base, have been developed by Chiliz for numerous prominent European soccer teams, including Paris Saint-Germain, Barcelona, Manchester City, and Juventus.
These teams leverage tokens to engage with fans remotely by offering exclusive rewards and voting rights on minor team decisions. With the upcoming FIFA World Cup, Chiliz anticipates that its expansion to Solana and Base will significantly enhance trading volume for these tokens, having already introduced tokens for the Argentina and Portugal teams, with more expected to be announced in June.