In a bid to bolster the trading of its extensive range of fan tokens, Chiliz, a prominent sports-centric blockchain, is set to expand its operations to Solana and Base, a layer-2 Ethereum network developed by Coinbase. Having launched its own layer-1 network in 2023, the company is now embracing an 'omnichain distribution' model.
This strategic move is expected to introduce a unified supply of fan tokens across supported chains, thereby eliminating the need for wrapped tokens and fragmented liquidity pools. Chiliz has successfully developed over 70 fan tokens, including those for renowned European soccer clubs such as Paris Saint-Germain, Barcelona, and Manchester City. These tokens serve as digital representations of community membership, offering fans exclusive rewards and voting rights. With the upcoming FIFA World Cup, Chiliz anticipates that its expansion into Solana and Base will significantly boost trading volumes for these tokens.