The gaming project is expanding its Chiliz Coin beyond its own blockchain for the first time, bringing fan tokens to Solana and Base.
Blockchain sports platform Chiliz is expanding its fan tokens to Solana and Base, taking the assets beyond its own Layer-1 network for the first time.
The company said in today’s blog announcement that fan tokens will launch on the two networks through LayerZero technology.
- Launched in 2018 by Malta-based Mediarex, Chiliz raised more than $65 million through a private placement that included Binance and other investors.
- The company later launched Socios.com in late 2019 as its fan engagement app, with Juventus among the first clubs to issue a fan token.
Now, Chiliz CEO Alexandre Dreyfus says fan tokens “have generated more than $700 million in new income for sports organizations,” noting that “until now, they’ve lived on a single chain.”
More than 70 fan tokens have been launched since 2019, tied to clubs including Paris Saint-Germain, FC Barcelona, Manchester City, and many others.
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Chiliz Chain Still Sits at the Center
Chiliz debuted the public mainnet of Chiliz Chain in May 2023 as a Layer-1, EVM-compatible blockchain built for sports. The goal was to give clubs, leagues and developers a dedicated network for fan tokens, loyalty products and NFTs.
As Dreyfus explained, launching on Solana and Base “is about meeting fans and traders where they already are.”
Fan tokens will keep a unified supply across chains, avoiding wrapped versions that can split liquidity across different markets, the blog post reads. Chiliz said the integration uses LayerZero’s Omnichain fungible token standard and a multi-DVN security setup.
Cross-Chain Rollout Begins With CHZ
Chiliz Coin (CHZ) and PEPPER will be the first assets available cross-chain, with top fan tokens expected to follow. On Solana, the tokens are set to appear through Jupiter and Meteora, while on Base they are expected to trade on Aerodrome.
The company also said 10% of revenue from token sales across supported chains will be used to buy back Chiliz Coin and permanently remove it from circulation.
Despite the expansion, Chiliz Coin traded around $0.048, down about 5.2% over 24 hours, with a market capitalization near $503 million, per data from CoinGecko, hinting at some pressure as liquidity starts spreading across other networks instead of staying mostly on its own chain.
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