Retired NFL Player Makes Investment To Turn Sports Into A Stock Market
Jock MKT receives first round of funding led by Isaiah Kacyvenski, as company launches during pandemic
BOSTON - October 13, 2020 (Investorideas.com Newswire) Backed by many of the giants of the sports betting industry and inspired by a traditional stock exchange, Jock MKT (Jock Market) soft launched via iOS when sports returned during the pandemic. This month, it will debut on Android devices, allowing users to buy and sell virtual shares of NFL, NBA and PGA athletes in real time for real money.
This past weekend, shares of Ryan Fitzpatrick skyrocketed 567% on Jock MKT during his three touchdowns, 350-yard performance. On the same night, shares of LeBron James increased 35%, as he won his fourth NBA Championship. On the flip side, shares of Jimmy Garoppolo were down 75% after throwing for only 77 yards and two interceptions.
Jock MKT's main differentiator is their cash market format. This unique offering gives users more flexibility and options versus typical fantasy contests. Users can join at any time and for any dollar amount. They can buy and sell shares of athletes in real-time, cash out early by selling to another user in-game or hold to the end and receive fixed Jock MKT payouts tied to final player rankings and overall fantasy scoring.
Jock MKT, which is currently available in 34 U.S. states, was co-founded by Tyler Carlin, a 2013 graduate of MIT's Sloan School of Management. The platform raised its first round of funding led by Will Ventures, an early-stage venture capital firm that focuses on companies at the intersection of sports and technology. 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.
Additional investors include: Brandon Adams, poker and daily fantasy sports pro, and former Economics teaching fellow at Harvard; Alumni Ventures Group, investment network for MIT and Harvard alumni; Tim McSweeney, local Boston angel; as well as other strategic investors from the finance and gaming industries.
"We've put a ton of time and effort in as a team to bring something new to fantasy sports," said Carlin. "As we soft-launched recently on iOS, the feedback from users has been overwhelmingly positive. We look forward to providing an unmatched experience as we launch our Android platform in the near future."
"There's been surprisingly little innovation in the daily fantasy sports space over the last 8 years," said Kacyvenski. "As a former player, I see how much data has improved over that time, and how networks are incorporating more of that information into their live broadcasts. I love the Jock MKT team, and I think there's huge potential to translate this growing national appetite for real-time info into a more engaging, and unique in-game fantasy offering."
About Jock MKT
Headquartered in Boston and launched in 2020, Jock MKT (JockMKT.com) is a fantasy gaming platform where users can make real money - every minute, every second, of every game. Inspired by a traditional stock exchange, Jock MKT allows users to buy and sell shares of athletes in real time. Jock MKT was co-founded by Tyler Carlin and investors include Isaiah Kacyvenski, Ryan Moore, Brandon Adams and Alumni Ventures Group. Available in the U.S. in 34 states, Jock MKT offers gaming options for events tied to the NFL, NBA and PGA Tour.
Eric PR & Marketing, LLC - on behalf of Jock MKT
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