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Chiliz expands to Solana and Base, enhancing fan token trading
CryptoWorld News: Chiliz is expanding its over 70 fan tokens to the Solana and Coinbase-developed Ethereum layer-2 network Base. Chiliz launched its own layer-1 network in 2023 to support token trading, but is now transitioning to what it calls “full chain distribution.” Chiliz states that by using the full chain fungible token (OFT) standard, fan tokens will have a unified supply across each supported chain, eliminating the need for wrapped tokens or fragmented liquidity pools. Fan tokens are digital assets representing community membership, such as the fan base of sports teams. Chiliz has developed tokens for European football giants including Paris Saint-Germain, Barcelona, Manchester City, and Juventus. Chiliz hopes that expanding to Solana and Base will bring significant trading volume increases for these tokens ahead of the upcoming World Cup. Chiliz has already issued tokens representing Argentina and Portugal teams, with more tokens expected to launch in June.