Michael Jordan and his son, Jeffrey, have launched holding company Heir Inc. and secured a $10 million seed funding round.
Led by Thrive Capital, the round will help build the company’s first product: a sports-focused Web 3.0 platform – also called Heir – that allows athletes to connect with their fans.
Members have an opportunity to gain access to “Huddles” by purchasing a Huddle membership NFT that will unlock an exclusive experience with their favorite sports star and take part in the $7 billion NFT market.
- Each Huddle will have a certain membership capacity, so once that limit is reached, additional fans can only join if an original membership is resold.
- Membership values correlate directly with an athlete’s popularity, and each athlete will receive a percentage of all transactions on the platform.
Jeffrey Jordan will lead the company alongside Jeron Smith — Steph Curry’s former CMO and business partner — and Daniel George, founder of Limitless Creative. Michael Jordan will serve as an advisor.
Chicago Bulls player Lonzo Ball, blockchain platform Solana, entrepreneur and investor Alexis Ohanian, and New York Knicks executive vice president and senior basketball adviser William Wesley all participated in the round.
Smith mentioned that outside of Huddles, Heir will offer other athlete insights to fans including following what songs and shows they’re consuming on Spotify and Netflix.
The platform is slated to launch next year.