The sports-centric blockchain platform Chiliz is broadening its portfolio of over 70 fan tokens by integrating them into Solana and Base, an Ethereum layer-2 network developed by Coinbase. Initially, Chiliz introduced its own layer-1 network in 2023 for hosting token trades but is now adopting an omnichain distribution strategy, as announced on Tuesday. This approach enables fan tokens to exist on multiple chains with a unified supply, thereby eliminating the need for wrapped tokens or fragmented liquidity pools.
Fan tokens represent community memberships, such as those of sports teams, and Chiliz has developed over 70 tokens for prominent European soccer teams like Paris Saint-Germain, Barcelona, Manchester City, and Juventus. These tokens foster engagement among fans by offering exclusive rewards and voting rights.
By expanding to Solana and Base, Chiliz aims to significantly increase trading volume for these tokens ahead of the upcoming FIFA World Cup, with tokens for the Argentina and Portugal teams already available and more expected to launch in June.