Michael Jordan launches HEIR Inc, a firm in the tech-entertainment space aimed at capitalizing on the NFT market, with his son Jeffrey.
HEIR was co-founded by Daniel George (formerly of Nike) and Jeron Smith alongside the Jordans.
The crypto and NFT spaces are the latest financial devices to find an influx of new users of late. NFTs, in particular, have been associated with the NBA in the form of NBA Top Shot.
NBA Top Shot allows fans and investors to bid for replays, highlights and unique digital images from the league. NFTs have also been put to use by the likes of Tyrese Haliburton, who shows off his $140k NFT on his game shoes.
Given the volume of investment and the amount of buzz in this particular fin-tech space, there is a huge amount of interest being displayed by whales with old and new money alike.
Heir Inc, founded by Jeffrey and Michael Jordan, launches its first product
The company’s first product is a self-titled one – HEIR. It is designed as a product for Web3, catering to athletes by providing them with a personalized community experience.
The startup has closed a $10.6 million seed funding round led by New York-based Thrive Capital. Solana Ventures, the VC arm of blockchain platform Solana, is reportedly also invested in this round.
Founders Daniel George and Jeron Smith issued the following statement at the opening of the firm:
“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.”
Michael Jordan and son Jeffrey announce the launch of HEIR Inc., company building culturally-inspired consumer brands rooted in tech and entertainment. The company will be led by Jeffrey Jordan, Daniel George and Jeron Smith, a trio of media, entertainment and marketing execs.
— Marc J. Spears (@MarcJSpears) December 15, 2021
“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.”