Michael Jordan Jumps into Web3

Six-time NBA champ and basketball legend Michael Jordan is diving into Web3 with a brand-new app called HEIR, created as a fan engagement platform developed on the Solana blockchain.

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Connecting Fans to their Favourite Athletes

According to Variety, Jordan is releasing HEIR along with his child, Jeffrey Jordan, together with marketing specialist Daniel George and Jeron Smith, co-founder and CEO of Steph Curry’s media business Unanimous. The company has actually raised US$10 million in seed financing from numerous VC companies consisting of Thrive Capital and Solana Ventures, and it’s anticipated to be introduced in 2022.

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HEIR Inc is the company, and its very first item is Heir.app, developed to permit professional athletes from all fields to link and engage with their fans, specifically targeting generation Zs and millennials. As Jeffrey Jordan discussed, the Jordan brand name has actually “cultivated a devoted neighborhood for over 35 years– the focus now is passing that tradition on to the next generation”.

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The app will have its own token minted on Solana, which users can utilize to get special access to professional athletes’ VIP seats and get special first-person NFT drops. Advocates will likewise have the opportunity to purchase one-time digital possessions or sign up with a professional athletes’ “huddle”.

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Solana and Web3

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Solana (SOL) has actually been among the best-performing DeFi tokens this year. On November 5, Solana’s cost rose to practically US$250 following a US$ 8 million Web3 financial investment by Syndica, which is constructing a next-generation blockchain facilities for the Solana community.

However, Solana just recently suffered a DDoS attack, which jammed the network and triggered big deal hold-ups. The token didn’t suffer a substantial cost drop, however the event did raise issues about the security of its agreement algorithm, Proof of History (PoH).