The sports-centric blockchain platform Chiliz is broadening its reach by introducing its extensive range of fan tokens to Solana and Base, a layer-2 Ethereum network developed by Coinbase. Initially, Chiliz launched its own layer-1 network in 2023 to facilitate token trading, but it is now adopting an omnichain approach. By leveraging the Omnichain Fungible Token standard, fan tokens will have a unified supply across all supported chains, thereby eliminating the need for wrapped tokens and fragmented liquidity pools.
Fan tokens represent digital membership in a community, such as a sports team's fan base, and offer exclusive rewards and voting rights. With over 70 fan tokens developed, including those for prominent European soccer teams like Paris Saint-Germain and Barcelona, Chiliz aims to significantly increase trading volume ahead of the upcoming FIFA World Cup by expanding to Solana and Base.