“STOCK MARKET FOR SPORTS” SURPASSES $2 MILLION IN USER TRADES Jock MKT prepares for its first Cash Market during NFL’s biggest game – Shares of Tom Brady, Patrick Mahomes and their teammates to be available during IPO stage and throughout the game
BOSTON, Mass. | January 26, 2021 09:37 AM Eastern Standard Time
Jock MKT (Jock Market), the platform that is turning sports into a stock exchange, announced they have surpassed $2 million in user trades since launching in September of 2020. It took four months for Jock MKT to hit their first $1 million in trades and only 26 days to reach their next $1 million milestone between December 25, 2020 and January 19, 2021.
Now approved in 34 states, Jock MKT is planning to host their first “cash market” for the NFL’s biggest game on Sunday, Feb. 7. Users will be able to bid on virtual shares of Kansas City Chiefs and Tampa Bay Buccaneers players during an IPO stage that will conclude prior to kickoff. When the IPO ends, any Jock MKT user can buy and sell shares from other investors during the game in real time for real money.
“The early users of Jock MKT have become like a community,” said Tyler Carlin, Co-Founder of Jock MKT. “We’ve gotten to know many of them by their screen names in the app; I think we probably get as excited as they do when someone that’s been around from the beginning nets a big win.”
On January 24, Travis Kelce’s IPO price was $11.01 for the NFL’s Conference Championship Round. Investors in Kelce needed to bid at least $11.01 to obtain shares in the IPO or buy shares through a bid and ask model that is similar to a real stock exchange. Kelce ended the day with the most fantasy points and his shares paid out $25 per share for a return of 127%. In the same cash market, Marquez Valdes-Scantling saw the biggest return at +237%, Aaron Jones saw the biggest loss at minus 84%, and Tom Brady was down 23% verses his IPO price. Patrick Mahomes was up 45%.
“One person shared a screenshot on Twitter of their $1,200 return after they invested in Kelce shares on Sunday,” added Carlin. “Then, another user saw a $1,500 return during this past weekend’s PGA Tour event. It’s been great to see, and we’re looking forward to giving more fans a fun way to be invested in the action, especially during sports’ biggest event on February 7.”
Jock MKT was co-founded by Tyler Carlin, a 2013 graduate of MIT’s Sloan School of Management. Led by Will Ventures, the platform raised its first round of funding in September. Will Ventures’ Founding Partner and Managing Director is Isaiah Kacyvenski, a retired eight-year NFL veteran with a Harvard MBA. Accomplice founding partner Ryan Moore, an early investor and current board member of DraftKings, is also a stakeholder in Jock MKT.