The blockchain company Chiliz, which specializes in sports, is broadening the availability of its over 70 fan tokens by integrating them with Solana and Base, an Ethereum layer-2 network developed by Coinbase. Initially, Chiliz launched its own layer-1 network in 2023 for the trading of its tokens but is now shifting towards an omnichain distribution model.
This approach involves utilizing an Omnichain Fungible Token standard, allowing fan tokens to exist across multiple chains with a unified supply. This eliminates the necessity for wrapped tokens and fragmented liquidity pools. Fan tokens represent digital membership in a community, such as a sports team's fan base, and offer exclusive rewards and voting rights.
With the FIFA World Cup approaching, Chiliz aims to significantly increase the trading volume of these tokens by expanding to Solana and Base.