In a move to boost fan engagement and token trading, Chiliz, a sports-centric blockchain, is broadening its presence to Solana and Base, a layer-2 Ethereum network developed by Coinbase. This expansion is part of Chiliz's transition to what it terms 'omnichain distribution', as announced on Tuesday. By adopting the Omnichain Fungible Token standard, fan tokens will have a unified supply across all supported chains, thereby eliminating the need for token wrapping or fragmented liquidity. Fan tokens, which symbolize community membership such as a sports team's fan base, have been developed by Chiliz for over 70 teams, including prominent European soccer clubs like Paris Saint-Germain, Barcelona, and Manchester City.
These tokens facilitate fan engagement through exclusive rewards and voting rights. With the FIFA World Cup approaching, Chiliz aims to significantly increase token trading volumes through its expansion to Solana and Base, with tokens for teams like Argentina and Portugal already available and more slated for release in June.