Michael Jordan's Heir App launches in an effort to increase revenue for athletes from the NCAA, NBA and more, the NFT boom continues to expand.
It seems no one can escape the NFT craze, not even the sneaker world. With Nike and adidas leaning into the metaverse, the scope of the blockchain continues to expand into every facet of life. Michael Jordan and his eldest son Jeffery have started an NFT project to help connect athletes across all levels of professional basketball to their fans.
As is the case with most NFT’s as well as sneakers, the limited nature of the product is what draws one in. Athletes will sell “seats” that give fans access to NFTs and digital assets using the Solana blockchain. Once a “seat” is secured, one can join an athlete's “huddle” which grants access to “exclusive drops and immersive experiences”. The number of people allowed to join specific athletes' huddles will be tied to their social media following, anywhere from 0.5 to 1 percent of the total number of followers. This whole project will prove lucrative to athletes considering the split on an initial sale of NFTs being 80/20 split in favor of the athletes. The reselling of these NFTs will be split evenly 50/50 between Heir and subsequent athletes tied to the NFT. The Heir app and website will not only provide a marketplace for NFTs but also includes behind-the-scenes looks into athletes' lives, Q&As, and much more.
While no official list of athletes has come out, we do know that Lonzo Ball has invested in the business, so expect top tier NBA players to join in on the project as time goes on. The first athletes that will be on the Heir app are expected to be announced in the coming months. To take part in Michael Jordan’s first official venture into the metaverse, head over to the Heir website and join the waitlist. Keep it locked to our Twitter and Mobile App for more information as it becomes available.