Popular Basketball Star Michael Jordan and Son Jeffrey Launches NFT Platform for Athletes
According to fresh reports, Heir Inc, the holding company, recently established by the Jordans, is creating a "consumer-facing community platform" that would allow athletes to connect with their fans. The idea was birthed by Jeffrey Jordan, marketing executive Daniel George, and Jeron Smith, a former chief executive officer and the co-founder of Unanimous Media owned by Stephen Curry.
According to information obtained from Heir's website, athletes would be able to use the platform to sell limited numbers of membership-based "seats" to their fans, who will be able to gain access to digital assets and first-person NFT drops, utilizing an exclusive token given by Heir, which is built on the Solana blockchain. Also, customers can buy one-time digital assets and join an athlete's "huddle" to have access to exclusive drops, amazing experiences, digital goods, and much more.
According to Jeffrey Jordan, the platform "reimagines the creator-fan experience, to empower athletes to engage with their fans."
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The heir had a Web3 personalized community platform for athletes as its first product. At its initial launch, $10.6 million was realized in a round led by Thrive Capital, which marked the Heir's entrance into NFTs. Investors to the platform include Solana Ventures, the Solana blockchain's investment branch, Alexis Ohanian, co-founder of Reddit, EVP of the New York Knicks, senior basketball adviser William Wesley, and the Chicago guard Lonzo Balls.
Heir intends to realize revenue from customers who buy memberships within an athlete's "huddle," and the athletes would, in turn, gain an 80% share of the primary sales of NFTs, while Heir will retain 20% from such sales. The concept behind the Heir model is to keep the memberships at a minimum. Therefore, the number of seats within an athlete's "huddle" will be set at about 0.5% to 1% of their existing following across their social media platforms.