Boston-based fantasy gaming platform Jock MKT made its debut on iOS in time for the NFL ‘s return late last week. The new mobile app will allow users to buy and sell NFL, NBA and PGA Tour athletes’ virtual shares in real time for real money during every second of each game.
Tyler Carlin, a 2013 graduate of MIT’s Sloan School of Management, co-founded Jock MKT which is currently available in 34 US states. The new company raised its first round of funding led by Will Ventures, an early-stage venture capital firm that focuses on companies at the sports and technology intersection, and Accomplice founding partner Ryan Moore, the first investor in DraftKings.
The round also includes: Brandon Adams, poker and daily fantasy sports pro, and Harvard ‘s former Economics teaching fellow; Alumni Ventures Group, MIT and Harvard alumni investment network; Tim McSweeney, local angel in Boston; as well as other financial and gaming industry strategic investors.
Carlin said: “We’ve put a ton of time and effort in as a team to bring something new to fantasy sports. And we’re really looking forward to launching our cash market format because it’s unlike anything else out there, and not many companies are doing in-game fantasy sports at scale.”
Will Ventures and Accomplice are collaborating with Jock MKT to bring the world to the new “Robinhood-esque” fantasy sports style trading experience. The idea resonated with the founding partner and managing director of Will Ventures, Isaiah Kacyvenski, an eight-year former NFL veteran who has now turned VC.
Kacyvenski said: “There’s been surprisingly little innovation in the daily fantasy sports space over the last eight years. 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.”
Jock MKT will be offering users two ways to compete and earn money across the MARKET and CONTEST formats during NFL , NBA and PGA Tour events. The business interface enables users to enter for any dollar sum at any time. They can buy and sell real-time athlete shares, cash out early by selling to another individual, or keep to the end and collect set Jock MKT payouts based on the final ranking of participants.
Users pay the same entry fee in the Contest format, and earn the same number of virtual chips. They begin bidding for athlete ‘s shares during a predetermined IPO-style auction era. If the IPO ends, shares are issued by the highest bidder and all users can buy and sell shares in an effort to boost their position. At the end cash prizes are paid out depending on the final chip count of the customer.