Michael Jordan Invests Heavily in Cryptocurrency, Set to Launch ‘HEIR’ Token.

Michael Jordan and his son Jeffrey Jordan have announced their first tech product called Heir and the startup recently closed the company’s first $10 million seed round led by Thrive Capital.

Furthermore, the seed financing investments for Heir Inc. stemmed from Solana Ventures, Chicago Bulls guard Lonzo Ball, William Wesley the executive vice president and senior basketball adviser for the New York Knicks, and the tech entrepreneur Alexis Ohanian.

The press announcement sent to Bitcoin.com News says Heir is a “next-generation holding company that will build culturally-inspired consumer brands rooted in tech and entertainment.” While Solana Ventures invested in Heir, the new tech platform crafted by the Jordans will also leverage the Solana blockchain network to issue an “heir” token.

The announcement notes that “[Heir] supporters will have the opportunity to purchase one-time digital assets or to join their ‘huddle,’ powered by blockchain technology, for exclusive drops, digital goods, immersive experiences, and more.”

Basically, popular athletes will have VIP “seats” set aside exclusively for passionate fans who can leverage Heir tokens and access to “intimate first-person” non-fungible token (NFT) drops.

“What Heir Inc. is developing is purpose-built for a new era of athlete enterprise, opening the door for richer storytelling and deeper consumer engagement,” Jeffrey Jordan explained in a statement. “The Jordan name has cultivated a loyal community for more than 35 years; the focus now is passing that legacy on to the next generation. We hope to continue to build and invest in businesses that bring that same reverence to the media and tech space.”

Concepts like non-fungible tokens (NFTs) and blockchain technology have been very attractive to sports-related firms in 2021 and during the last two weeks, Nike and Adidas have entered the NFT and metaverse space. The Flow blockchain-based NFT collectibles NBA Top Shot have seen $750.4 million in all-time sales and is the fourth largest NFT marketplace in terms of all-time sales, according to dappradar.com stats.