In a bid to enhance the trading experience for its extensive range of fan tokens, Chiliz is broadening its reach to Solana and Base, a layer-2 Ethereum network developed by Coinbase. This strategic move follows the company's launch of its own layer-1 network in 2023, which initially hosted the trading of its tokens. However, Chiliz is now adopting an omnichain distribution approach, as announced on Tuesday. By leveraging the Omnichain Fungible Token standard, fan tokens will be unified across all supported chains, eliminating the need for wrapped tokens and fragmented liquidity pools.
Chiliz has developed over 70 fan tokens, representing prominent sports teams such as Paris Saint-Germain, Barcelona, and Manchester City. These tokens offer fans exclusive rewards and voting rights, fostering engagement and community participation. With the upcoming FIFA World Cup, Chiliz aims to significantly boost trading volumes for these tokens by expanding to Solana and Base, with plans to unveil additional tokens in June.