Mojo, a stock market for sports that allows fans bet on their favorite athletes’ performances, announced today that more than 100 NBA players will make their debut on the Mojo marketplace.
The initial release features many of the Association’s most prominent players, future stars and fan favorites, as national attention shifts towards the NBA All-Star Game.
Mojo lets fans bet on hundreds of athletes’ careers by choosing players and trading them like stocks. Mojo shares are based on accumulated real stats as well as the market’s expectation for their future. Prices fluctuate in real time based on signings, trades and coaching hires.
This comes with the rise of stock market for athlete platforms.
Mojo will also offer NBA Liquid Props, which combines day trading with sports betting. Customers can trade in and off of the NBA Liquid Prop bets, which are single-game positions based on stats. Mojo provides live pricing and cashouts almost every time at fair pricing.
This allows customers to track the true market value and trade with confidence, without any friction, and trading with trust. It is the best live, interactive and fun trading game product on the marketplace. Liquid Props, unlike career bets like Mojo, are not a binary lose/win proposition. Customers have complete control over the risk and length of their bets.
“We have built the first player-centric stock market that offers bets ranging from the entirety of a career to a single-game performance. Fans can profit by getting in early on the career of an obscure 2nd round draft pick who becomes a two-time MVP or bet that Nikola Jokic will score 30 points in his next game,” said Vinit Bharara, CEO and Founder of Mojo. “Every position we offer is tradeable in real time, just like a stock, with fair market value and instant liquidity. Adding NBA players will only enhance the public debate around who the best players are in the league.”
Mojo’s data scientists have examined nearly 50 years worth of stats and millions upon millions of data points in order to develop a statistical formula that accurately represents each NBA player’s contribution on the court.
Mojo Value is calculated using ten statistical categories. They are: $+1.00 for 100 Points; $+0.50 for 100 Rebounds; $+0.75 Per 100 Assists; $+1.25 Per 100 Blocks; $+0.50/100 3-Point Shots Made; $0.25 per Plus/Minus, $-1.25/100 Turnovers. $-0.50 Field Throws Missed. $-1.00 per 100 free throws missed.
According to Mojo Value, LeBron is the most expensive NBA player since 1980. His current share price stands at $516.41. There are five top players on the market currently: Kevin Durant ($392.38) Giannis Antetokounmpo ($381.07) Luka Doncic ($373.26) Nikola Jokic ($355.40).
Mojo has raised over $100 million to date from both institutional and angel investors. This includes Alex Rodriguez, Marc Lore, Thrive Capital (which led Mojo’s $75 million Series A), Tiger Global, Fin Capital, and Courtside Ventures, as well as the NFL Players Association, The Chainsmokers’ Mantis Ventures, Chris Rock, Gary Vaynerchuk, Michael Kives, Jason Derulo, Jack Abraham, Morris Bailey, and others.
