The sports-oriented blockchain platform, Chiliz, is broadening its reach by introducing its extensive collection of over 70 fan tokens to the Solana and Base networks, the latter being an Ethereum layer-2 network developed by Coinbase. Initially, Chiliz had launched its own layer-1 network in 2023 for hosting token trades but has now opted for an omnichain distribution strategy.
This move, as announced on Tuesday, allows fan tokens to exist uniformly across all supported chains, thereby eliminating the need for wrapped tokens or fragmented liquidity. Fan tokens represent community membership, such as a sports team's fan base, with Chiliz having developed tokens for prominent European soccer teams like Paris Saint-Germain, Barcelona, and Manchester City. These tokens foster fan engagement by offering exclusive rewards and voting rights.
With the FIFA World Cup approaching, Chiliz aims to significantly boost token trading volumes through this expansion, having already introduced tokens for the Argentina and Portugal teams, with more slated for release in June.