Michael Jordan and his son Jeffrey Jordan have raised $10 million in venture capital to develop Heir, a cryptocurrency fan token company. Fans will be able to exchange their tokens for exclusive material and interactions with athletes via product drops, digital products, and member-only videos on the membership-based network.
The Heir NFT will be minted on the Solana blockchain and will be available in 2022. New York Knicks EVP William Wesley, Solana Ventures, Alexis Ohanian, and Chicago Bulls point guard Lonzo Ball, whose brother LaMelo plays for Michael Jordan’s Charlotte Hornets, all contributed to the startup’s funding.
“With new boundaries in web3,” Heir claims on its website, “the HEIR platform will give economic value to original cultural creators and early consumers with new decentralized possibilities that encourage ownership.”
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Jordan—whose nickname was “Air” as he rose to global stardom during the Chicago Bulls dynasty of the 1990s that corresponded directly with the rise of the World Wide Web—makes his latest move into Web 3.0 after also being an investor in Dapper Labs, the creator of NBA Top Shot. Heir’s concept is similar to Spencer Dinwiddie’s Calaxy, another crypto app focused on connecting fan token holders with their favorite athletes and celebrities.
Heir is the first product launched as part of Heir, Inc., a holding company founded by Jeffrey Jordan that “will build culturally-inspired consumer brands rooted in tech and entertainment,” according to a press release. Heir’s co-founders include Jeron Smith, a former Nike brand manager who also co-founded Steph Curry’s production company Unanimous Media.
