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The Legendary NBA All-Star Michael Jordan has announced that he is moving into blockchain and Web 3.0 technology together with his son Jeffrey Jordan. In a statement made on Wednesday they reveil their first tech product called Heir as the startup recently closed a first $10 million seed round led by Thrive Capital. Solana Ventures, Chicago Bulls guard Lonzo Ball, William Wesley the executive vice president and senior basketball adviser for the New York Knicks and tech entrepreneur Alexis Ohanian all invested in Heir.
The Jordan’s new tech platform will leverage the Solana blockchain network to issue the native “heir” token.
The press release describes Heir as a “next-generation holding company that will build culturally-inspired consumer brands rooted in tech and entertainment.”
It further notes:
“[Heir] supporters will have the opportunity to purchase one-time digital assets or to join their ‘huddle,’ powered by blockchain technology, for exclusive drops, digital goods, immersive experiences, and more.”
Jeffrey Jordan said:
“What Heir Inc. is developing is purpose-built for a new era of athlete enterprise, opening the door for richer storytelling and deeper consumer engagement.
The Jordan name has cultivated a loyal community for more than 35 years; the focus now is passing that legacy on to the next generation. We hope to continue to build and invest in businesses that bring that same reverence to the media and tech space.”
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The Heir platform will launch in 2022 and the project is mainly targeting generation Z and millennials fans. Heir’s Executive team will be led by Jeffrey Jordan, Jeron Smith, and Daniel George.
Co-founders Daniel George and Jeron Smith commented:
“We envision Heir becoming the platform that will help cultivate the future of athlete meta-brands,” “Dedicated supporters are at the heart of the platform, and they’ll benefit from early adoption ownership and unmatched access to their favorite athletes.”
They added:
Through marketplace engagement and tech-enabled activations, our platform unlocks the underserved monetization of fandom. We are excited to offer creators a wider range of engagement tools to reach passionate supporters, especially Gen Z and millennials, in new ways.
Non-fungible tokens (NFTs) and blockchain technology have been a hot in sports in 2021, with recently Nike entering the world of NFTs and the metaverse with the acquisition of RTFKT Studios.
Earlier in the year, Michael Jordan’s six infamous Chicago Bulls championships in the 1990s were eternalized in an NFT drop. The NBA franchise, led by Michael Jordan during their glory years, launched a series of NFTs on leading e-commerce platform Shopify.