VERIFIEDBy Xavier Rivera· ·1 min read
Chiliz Expands 70+ Fan Tokens to Solana and Base
Chiliz expands over 70 fan tokens to Solana and Base using omnichain tech. The move targets a trading surge before the FIFA World Cup.
Source:CoinDesk
TL;DRAI · 60 sec read
Sports-focused blockchain Chiliz expands its roster of over 70 fan tokens to Solana and Base, the Ethereum layer-2 network developed by Coinbase.
Chiliz rolled out its own layer-1 network in 2023 to host token trading but now transitions to "omnichain distribution," per an announcement on X Tuesday. The Omnichain Fungible Token (OFT) standard lets fan tokens exist on each supported chain with a unified supply, eliminating wrapped tokens or fragmented liquidity pools, Chiliz said.
Fan tokens represent membership in communities like sports team fan bases. Chiliz has created over 70, including for Paris Saint-Germain, Barcelona, Manchester City and Juventus. Teams use them to engage fans outside stadiums via rewards and voting on minor issues such as players' warm-up kit colors.
Chiliz anticipates a major trading volume boost from the expansion ahead of this summer's FIFA World Cup. It already offers tokens for Argentina and Portugal national teams, with more expected in June.
Chiliz rolled out its own layer-1 network in 2023 to host token trading but now transitions to "omnichain distribution," per an announcement on X Tuesday. The Omnichain Fungible Token (OFT) standard lets fan tokens exist on each supported chain with a unified supply, eliminating wrapped tokens or fragmented liquidity pools, Chiliz said.
Fan tokens represent membership in communities like sports team fan bases. Chiliz has created over 70, including for Paris Saint-Germain, Barcelona, Manchester City and Juventus. Teams use them to engage fans outside stadiums via rewards and voting on minor issues such as players' warm-up kit colors.
Chiliz anticipates a major trading volume boost from the expansion ahead of this summer's FIFA World Cup. It already offers tokens for Argentina and Portugal national teams, with more expected in June.
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