Source: Jean Catuffe / Getty
Looks like Michael Jordan and his son Jeffery are going into business together to launch a new company for a new generation of sports fans.
According to Variety the father-son duo will be linking up to initiate the beginning of Heir Inc. which will come as an app (Heir.app) and serves as a holding company that will build a new consumer-facing community platform that will enable fans to connect with athletes on a new level. Aside from simply being a way for sports stars and their followers to get familiar, the site will also have features that will allow users to get into the business aspect of things including an entertainment studio and consumer products.
Heir Inc. is a new company co-founded by Jeffrey Jordan along with marketing exec Daniel George (founder of agency Limitless Creative), and Jeron Smith, former CEO/co-founder of Stephen Curry’s Unanimous Media.
“Here’s how the founders say the Heir platform will work: Athletes will sell a limited number of membership-based “seats” to fans, who will get access to digital assets and first-person NFT drops, using an exclusive Heir token built on Solana’s energy-efficient blockchain network. (NFTs, or nonfungible tokens, are used to verify ownership of unique digital content.) Supporters will have the opportunity to purchase one-time digital assets or join an athlete’s “huddle” for exclusive drops, digital goods, immersive experiences, and other perks.”
Sounds hella interesting. With the GOAT backing this y’all know heads is going to be getting in on this bigly.
Though there’s no word on which athletes are getting down with the new business venture, Jeffery Jordan says that “We’re being very deliberate with our early-adopter athletes.” Makes sense for Jordan Brand athletes to be the first to be introduced to the new community based service. But don’t expect the GOAT himself to be one of the sports stars to be a part of the new innovative app just yet.
According to Jeffrey, “My dad is a strategic adviser and partner. We meet with him regularly, and he provides guidance and insightful ideas… When he was playing, he didn’t have the same tools to connect with his fanbase or monetize that.”
Mike seems like a helluva private person so it may take him a while to warm up to the idea of connecting with millions of strangers. Most will probably complain about not getting a pair of Retro Jordans to be honest.
As for how the whole NFT aspect of the app will work, well, it’s a bit complicated.
“Heir will generate revenue from consumers purchasing memberships in an athlete’s “huddle.” Athletes will get an 80% cut of primary sales of NFTs and Heir Inc. will keep 20%; on subsequent sales the split is 50-50.”
“The idea is keep the Heir memberships scarce: The number of seats in a given “huddle” will be capped at about 0.5%-1% of an athlete’s existing social following, according to George. Once you hit the cap, “the only way to get in is if somebody sells you their seat,” he said. “The value of the huddle seat appreciates over time.”
Guess we’ll just have to see how things pan out.
Are y’all going to be getting in on the Heir app when it officially launches in 2022? Let us know in the comments section below.
Michael Jordan & Son Jeffery Jordan Launch Heir Inc. was originally published on hiphopwired.com
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