Michael Jordan to launch NFT venture“HEIR” in 2022: Here’s what you need to know
Michael Jordan is starting a new business venture
Michael Jordan is set to launch HEIR in 2020, a fan-engagement app that will serve as a platform for NFTs.
MJ joins Metaverse
Jordan knows a winner when he sees one, at least on his business ventures. The billionaire is set to join the Metaverse with his new app called HEIR, scheduled to release next year. It gives a platform to fans and collectors to interact with each other and transact Non-Fungible Tokens (NFTs).
The HEIR has raised $10 million with Lonzo Ball, New York Knicks executive vice president William Wesley and Reddit’s Alexis Ohanian, the early investors into the project. It helps that MJ and his son Jeffrey are behind the HEIR as it’s easy to get big-name investors because of Jordan’s credentials. Jeffrey, Nike brand manager Jeron Smith, and marketing consultant Daniel George will lead the firm. Solana blockchain, seen as a faster, cheaper, and more efficient alternative to Ethereum, will support HEIR.
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Members will get exclusive access to benefits, according to Basketball News. However, it remains to be seen how it could affect other businesses owned by Mike as there could be a chance that the Jordan brand’s next collection could be released in the Metaverse.
Other teams could follow suit
NFTs are becoming more popular recently. The Utah Jazz became the first professional team to offer a virtual locker room tour and NFTs back in October. NFTs give fans and collectors ownership of digital assets such as highlight videos, posters, or NBA cards. Just imagine MJ’s fans getting first dibs on his digital memorabilia. Meanwhile, Jordan Clarkson and Rudy Gobert already have their own avatars in Metaverse.
On the other hand, Spencer Dinwiddie once tokenized his league contract and raised $7.5 million in July, per Decrypt. Soon, players might not need a representative to negotiate their contracts. One of the advantages of NFTs is that it gives ownership and control to fans and players. So it’s exciting what positive impact NFTs could bring to the NBA in the near future.
