Solana started to become an alternative to Ethereum in 2021, and as the NFT market grew, so did interest in Solana. The Metaplex Foundation, which created the Solana protocol, got a lot of money from a lot of different places, including Jordan.
Metaplex raised $46 million in a round led by Multicoin Capital and Jump Crypto, with participation from Solana Ventures, Alameda Research, and Animoca Brands. Also, Michael Jordan, Allen Iverson, Kevin Love, and Joel Embiid all invested on their own and helped get the $46 million needed.
Metaplex wants to add to what Solana already has by making it possible for Solana NFTs to be used in video games, social apps, and to bring apps to life on phones. All of this will happen in the metaverse.
In March, the platform’s first NFT collection was released through HEIR, a Solana-based platform. The collection was based on Michael Jordan and his time with the Bulls.