Michael Jordan Partners with Solana for HEIR
“Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.”
NBA Hall of Famer and six-time champion Michael Jordan is the latest Athlete to see the developing technology of crypto and web3 as a new bridge between athletes, and fans. Yesterday, Jordan announced plans to launch a platform built on Solana with fan engagement being the number one goal.
The app, HEIR, is built to connect professional athletes to their biggest fans. Its HEIR token will be minted on the Solana blockchain and features NFT’s, as well as community-building aspects, that will let fans access their athlete’s specific “huddle” for exclusive benefits.
The parent company HEIR Inc. raised $10 million in seed funding to launch “culturally-inspired consumer brands rooted in tech and entertainment,” per a release and was co-founded by Michael and his son, Jeffrey Jordan.
The platform is set to launch in 2022, with Jeffery co-leading the firm alongside Nike brand manager Jeron Smith and marketing consultant Daniel George.
Thrive Capital led the funding round with participation by Solana Ventures, Reddit co-founder and Seven Seven Six founder, Alexis Ohanian, current Bulls player Lonzo Ball, and New York Knicks Executive Vice President William Wesley.
Heir is not the first platform of its kind being built within the space. Platforms such as Rally and Roll already enable users to purchase individual tokens minted by athletes, artists, and influencers, giving them access to exclusive perks, and other possible benefits if their star gains more notoriety.
This isn’t Micheal Jordan’s first move into crypto. Back in March, he took part in NBA Top Shot maker Dapper Labs’, $305 million fundraising campaign. Then in November, he participated in a $150 million Series C round for Mythical Games, a maker of crypto game infrastructure.
This announcement should not come as a surprise to many as Athletes have recently flooded the space with their projects.
Heir will possibly make it easier for stars wanting to enter the industry, without having to go through individual deals or learn about all the complexities of crypto, while still being able to enjoy the benefits of the space.