Hassan Maishera
The Chiliz team announced via X on Tuesday that it has expanded its Fan Tokens to Solana and Base blockchains. For the first time ever, the Fan Token™ asset class gains direct access to millions of active users, deeper secondary market liquidity, and broader distribution across DeFi ecosystems.
By using an Omnichain Fungible Token (OFT) standard, Fan Tokens™ will exist on each supported chain with a unified supply, eliminating the need for wrapped tokens or fragmented liquidity pools.
Chiliz is the native token of Chiliz Chain, the Layer-1 blockchain for Sports and Entertainment. It also powers the Socios.com Wallet, the leading fan engagement platform where fans can engage with their favorite sports and entertainment brands through Fan Tokens.
At its core, Fan Token Play introduces “mint and burn” mechanisms in which Fan Tokens are minted in response to team losses and burned (removed from supply) in response to wins, shifting Fan Token supply from a static to a dynamic model based on match results.
Fan Token Play will offer a refreshing new way for fans all around the world to connect with their clubs and acts as a utility upgrade to Chiliz’s existing Fan Token engagement and rewards proposition, consisting of voting rights on club decisions, access to rewards including ticketing, merchandise, and money-cant-buy experiences via its Socios.com fan engagement platform.
Within the Socios.com Wallet, fans can use their Fan Tokens to vote on governance polls, redeem rewards such as signed merchandise and VIP match tickets, and get access to unique physical and digital experiences. For sports clubs and associations, Fan Tokens offer a way of connecting with their fans and unlocking new revenue streams.
Chiliz has partnered with some of the world’s most iconic sports brands — including FC Barcelona, Manchester City, Juventus, and Paris Saint-Germain — and continues to expand into esports, gaming, and broader entertainment verticals.
Chiliz (CHZ) is a digital currency for sports, e-sports, and entertainment platforms and is adaptable across a wide range of industries. It aims to foster a blockchain ecosystem built for sports and entertainment.
Every sporting organization using the Chiliz technology has a limited supply of Fan Tokens that are offered at an initial FTO (Fan Token Offering). These tokens are offered on a first-come, first-served basis, with the opening price and fully diluted market cap disclosed by Chiliz beforehand. The native CHZ token is used to purchase Fan Tokens and acts as the platform’s internal currency. CHZ has down 4.5% of its value in the last 24 hours and is currently trading at $0.04693.
