Present Reports circulating online suggests that NBA legend Michael Jordan and his son are preparing to launch a platform on the Solana blockchain on which athletes and fans can interact with each other, as the six-time champion seeks to expand his presence in the $2.3 trillion cryptocurrency market.
The HEIR platform from Jordan and his son, Jeffrey, is being backed in part by Thrive Capital, whose lineup of investments include retail trading app Robinhood, Instagram and work messaging service Slack.
The platform has raised $10.6 million in seed funding, according to reports Thursday.
HEIR said it’s aiming to usher in a new era of digital culture, with athletes as well as influential people in the worlds of entertainment and technology, participating on the platform.
The HEIR platform also seeks to deliver economic value to original culture creators and those who consume it early with new decentralized capabilities that drive ownership.
We believe in the power of ownership and legacy for all,” HEIR said on its website.
Web3 refers to the next iteration of the internet that will feature immersive social interaction.
Michael Jordan, who played for 15 years in the NBA and is the principal owner of the Charlotte Hornets, already has a stake in the quickly-growing cryptocurrency market.