The sports-centric blockchain platform Chiliz is broadening its fan token portfolio, which currently comprises over 70 tokens, to include Solana and Base, a layer-2 Ethereum network developed by Coinbase. Initially, Chiliz had introduced its own layer-1 network in 2023 to facilitate token trading but has since opted for an omnichain distribution approach. By adopting the Omnichain Fungible Token standard, fan tokens will be unified across all supported chains, eliminating the need for token wrapping or fragmented liquidity. Fan tokens represent digital community memberships, such as those for sports teams, and Chiliz has developed tokens for prominent European soccer teams like Paris Saint-Germain, Barcelona, and Juventus.
These teams leverage tokens to engage with fans remotely, offering exclusive rewards and voting rights. With the upcoming FIFA World Cup, Chiliz aims to significantly boost token trading volumes through its expansion to Solana and Base, having already introduced tokens for the Argentina and Portugal teams, with more slated for release in June.