The sports-oriented blockchain platform Chiliz is broadening its fan token offerings to include Solana and Base, the Ethereum layer-2 network developed by Coinbase. This strategic move follows the launch of Chiliz's own layer-1 network in 2023, which initially hosted the trading of its tokens. However, the company is now shifting its focus towards an omnichain distribution model.
By adopting the Omnichain Fungible Token standard, fan tokens will be unified across all supported chains, eliminating the need for wrapped tokens and fragmented liquidity pools. Fan tokens, which represent community membership, such as a sports team's fan base, will now have a unified supply. Chiliz has developed over 70 fan tokens for prominent European soccer teams, including Paris Saint-Germain, Barcelona, and Manchester City.
These tokens enable teams to engage with fans remotely by offering exclusive rewards and voting rights. With the upcoming FIFA World Cup, Chiliz aims to significantly increase trading volume for these tokens by expanding to Solana and Base. The platform already features tokens for the Argentina and Portugal teams, with more expected to be announced in June.