The sports-centric blockchain platform Chiliz is set to expand its portfolio of over 70 fan tokens to Solana and Base, a layer-2 Ethereum network developed by Coinbase. Initially, Chiliz launched its own layer-1 network in 2023 for hosting token trades but is now adopting an omnichain distribution approach. By leveraging the Omnichain Fungible Token standard, fan tokens will have a unified supply across all supported chains, eliminating the need for wrapped tokens and fragmented liquidity pools.
Fan tokens serve as digital assets representing 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 Juventus. These teams utilize tokens to foster engagement among fans by offering exclusive rewards and voting rights.
With the upcoming FIFA World Cup, Chiliz aims to significantly boost trading volume for these tokens by expanding to Solana and Base, with tokens for the Argentina and Portugal teams already available and more expected to launch in June.