Michael Jordan and son to launch Web3 platform, HEIR
The Jordan family duo recently launched a new holding company, Heir Inc., that plans to build a community where athletes and their fans can connect and interact.
The company was co-founded by Jeffrey Jordan, Daniel George, founder of the agency Limitless Creative, and Jeron Smith, the former CEO and co-founder of Steph Curry’s Unanimous Media.
In keeping up with current technology, the company is set to launch its first product – the HEIR app.
According to Variety, the HEIR app will be a Web3 personalized community platform for athletes to connect with their fans. To fund the HEIR product, the company managed to raise US$10.6 million capital in a seed funding round led by Thrive Capital.
Other notable investors include Solana Ventures, Chicago Bulls player Lonzo Ball, Reddit co-founder Alexis Ohanian, New York Knicks EVP, and senior basketball adviser William Wesley.
How HEIR would work
Fans would be able to purchase membership access from athletes to join their “huddles.” Using exclusive heir tokens – based on the Solana blockchain - huddle members would gain access to digital goods, NFT drops, immersive experiences, and more.
“The Heir platform reimagines the creator-fan experience to empower athletes to engage with their fans,” Jeffrey Jordan said.
HEIR huddle memberships would be highly exclusive, though, and the number of members in an athlete’s huddle is expected to be 0.5%-1% of their social media followers. Once membership is complete, “the only way to get in is if somebody sells you their seat,” Heir Inc. co-founder Daniel George revealed.
HEIR’s target audience is the Gen Z and the Millennials, and the company would be looking to young stars like Lonzo Ball to help connect with the market. “Individuals his age have grown up with social platforms,” co-founder Smith said. “This is the first step for athletes building their meta-brands in the metaverse/Web3 world.”
A lot is still unclear about the HEIR platform, but it was revealed that it would feature “tier one” NBA and WNBA players and the next generation of rising stars in the NCAA. The HEIR app is expected to launch sometime in 2022, but no date was specified.