Loo.me

There’s an interesting new website called OneSeason.com which is a virtual market of sports players.  You buy shares in athletes and players and based on market demand of those shares their value raises or lowers.  For example, two weeks ago Lebron James was at $1.10 and today he’s at $18.50 because his shares have been rising steadily.

The fun part is that new players come out each day in an IPO (Initial Player Offering).  For instance Yao Ming came out at $5 and immediately traded up to $15.  Each day there’s a reason to get back in

There’s a NYTimes article about this where it talks about the “value” of a share:

Mike Sroka, OneSeason’s founder, a former hedge fund analyst, compares OneSeason stock to collectible playing cards. “The cards have no intrinsic value, but due to limited supply and notoriety of the player, they fluctuate in value,” he said.

The one problem i see is that every player is appreciating right now.  No player has gone down which means nobody has lost any money.  A quick way to put OneSeason out of business would be for everyone to request their money back.  I’m guessing this won’t happen but still, you’ll need losers eventually.

I’m putting in a couple bucks and trying it out.  It’s definitely interesting.  Am i moron for falling for this?  I just bought 3 shares of Adrian Peterson for $25 bucks a piece.  We’ll see what happens.  I’m selling if he hits $50