Chiliz Expands Fan Tokens to Solana and Base Networks

According to CoinDesk, sports blockchain platform Chiliz is expanding its over 70 fan tokens to the Solana and Base networks, adopting a 'cross-chain fungible token' standard to unify the supply of fan tokens across all supported chains, eliminating issues of wrapped tokens and liquidity fragmentation. Chiliz launched its own Layer 1 network for token transactions in 2023 and is now transitioning to a 'cross-chain distribution' model. Chiliz aims for this expansion to significantly boost fan token trading volume ahead of this summer's World Cup. Currently, fan tokens for the Argentina and Portugal national teams have been launched, with more expected to be announced in June.