Alexis Ohanian Joined Forces With Billionaire Michael Jordan and 24-Year-Old NBA Star to Raise $10 Million for NFT Venture in 2021

Published 12/29/2022, 9:10 AM EST
September 27, 2021 – Kohler, Wisconsin, USA. – Basketball greats MICHAEL JORDAN and Steph Curry sit down at Whistling Straits, site of the Ryder Cup, to talk golf. Kohler U.S. – ZUMAce6_ 20210927_zaf_ce6_005 Copyright: xNbcxGolfx

Michael Jordan, with his son playing the lead role, launched a one-of-a-kind company in 2021. The focus of the company, Heir Inc, was to provide athletes and fans with a meaningful platform to interact. Additionally, the company would focus on entertainment and NFTs. Jordan’s son, Jeffery Jordan, stated that Heir “reimagines the creator-fan experience, to empower athletes to engage with their fans”. With this as their business model, Heir saw investments coming in from a variety of sectors.

The first Heir project concentrated on athletes selling seats to fans following which they’d become members of the Heir community. The membership supposedly entitled fans with perks such as interacting with the athlete and gaining access to digital assets like NFTs. These members would also participate in discussions on various topics with the athletes in question. The company also announced that there would be a limit on the number of memberships available.

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The Investors of Heir and the role of Michael Jordan

Funds for the startup were collected in a seed-funding round. A total sum of $10.6 million was accumulated courtesy of companies and firms like Thrive Capital and Solana Ventures. Millionaire and husband of Tennis Legend Serena Williams, Alexis Ohanian, and NBA Star Lonzo Ball also invested in the startup. Reports stated that New York Knicks Executive Vice-President, William Wesley, was also an investor.

The business model and concept left Gautam Ahuja, a partner at Thrive Capital, beyond impressed. In an interview with Variety, he spoke about the culture among fans and how love for each athlete keeps increasing. He said, “There’s an opportunity now to develop an ecosystem that enables fans to feel like insiders with the athletes they love”. 

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A company founded by Jeffery Jordan and the likes of people in the tech and media industry like Daniel George and Jeron Smith would be seeking advice from Billionaire Michael Jordan. Jeffery commented about the same and claimed that his father would play the role of an advisor and partner.

An update about the company

In 2021, the company aimed to launch its operations by 2022. On 21st December 2022, the company’s Twitter page gave fans an update about the company. The tweet stated that the IOS version of the app would be out very soon.

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While fans wait for this unique venture, the company is yet to announce the names of the athletes involved. Previously, the company stated that NBA and WNBA players will be a part of the Heir community. However, no further details have shared.

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WATCH THIS STORY: All those who were labeled as the next Michael Jordan 

Are you excited to see what’s in store for Michael Jordan and his son? Let us know your thoughts in the comments below.

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Shriya Rajachandra

392 articles

Shriya Rajachandra is an NBA writer for EssentiallySports. She earned a bachelor's degree in Journalism, Psychology, and Communicative English. Shriya previously interned at The New Indian Express, but her favorite journalist, Marcus Thompson motivated her to start writing about basketball.

Edited By: Gideon Mathson

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