Heir, a new Web3 platform founded by Jeffrey Jordan, the son of Michael Jordan, has raised $10 million in seed funding. It will be a "personalized community Web 3.0 platform for athletes to connect with their most passionate and loyal supporters."

Jeffrey Jordan, Michael Jordan's oldest son, has co-founded "Heir Inc." In addition, Daniel George, founder of Limitless Creative Co, and Jeron Smith, former CEO and co-founder of Unanimous Media are the co-founders of the firm. The greatest basketball player of all time, Michael Jordan, is also involved in NFTs as a strategic adviser to the firm.

A limited number of "seats" would be available for fans to purchase. In return, the fans would receive digital assets and NFT drops, all through the Heir token on the Solana blockchain. By purchasing limited tokens early in a player's career, fans could profit when the player becomes more popular.

The platform will target NBA players among its first class of huddle creators. Eventually, college and pre-college athletes will be able to take advantage of the NCAA's NIL freedom by starting their huddles.

Chicago Bulls guard Lonzo Ball, Reddit founder Alexis Ohanian, Solana Ventures and others participated in the round led by Thrive Capital. Fans will be able to buy a digital token, which will let them access select athletes' "huddles."

The platform offers a range of digital assets and exclusive content, including videos, will connect athletes and supporters, which is currently in invite-only mode.

As part of Heir Inc.'s vision to attract younger consumers, the company also plans to offer content studios and immersive experiences.

Many athletes have dived into the cryptocurrency market, including Brooklyn Nets star Kevin Durant, who signed a multi-year contract with cryptocurrency platform Coinbase Global.

Pavan A

CBW - External Analyst

INDIA