Michael Jordan Jumps into Web3 With Solana-Based App for Athletes

December 17, 2021, 10:30 AM AEST - 1 month ago

Six-time NBA champion and basketball legend Michael Jordan is diving into Web3 with a new app called HEIR, designed as a fan engagement platform built on the Solana blockchain.

Connecting Fans to their Favourite Athletes

According to Variety, Jordan is launching HEIR alongside his son, Jeffrey Jordan, together with marketing consultant Daniel George and Jeron Smith, co-founder and CEO of Steph Curry’s media company Unanimous. The firm has raised US$10 million in seed funding from several VC firms including Thrive Capital and Solana Ventures, and it’s expected to be launched in 2022.

HEIR Inc is the firm, and its first product is Heir.app, designed to allow pro athletes from all fields to connect and engage with their fans, especially targeting generation Zs and millennials. As Jeffrey Jordan explained, the Jordan brand has “cultivated a loyal community for over 35 years – the focus now is passing that legacy on to the next generation”.

The app will have its own token minted on Solana, which users can leverage to get exclusive access to athletes’ VIP seats and receive unique first-person NFT drops. Supporters will also have the chance to buy one-time digital assets or join an athletes’ “huddle”.

Solana and Web3

Solana (SOL) has been one of the best-performing DeFi tokens this year. On November 5, Solana’s price surged to almost US$250 following a US$8 million Web3 investment by Syndica, which is building a next-generation blockchain infrastructure for the Solana ecosystem.

However, Solana recently suffered a DDoS attack, which jammed the network and caused huge transaction delays. The token didn’t suffer a huge price drop, but the incident did raise concerns about the security of its consensus algorithm, Proof of History (PoH).

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