I've had an idea circling in my head for a while now, it's based partially on an actual location and series of events and partially on a fictional novel of a similar topic.
The gest of the story (and I would probably need a Co-GM to work it all out) revolves around a rumor of a treasure buried in a pit on an island in the mid 18th century by a group known, or unknown. The story's history begins with someone seeing lights on the island in the early dawn hours from shore, and after gaining some courage, travels to the island to discover a depression beside a large tree with a block and tackle ha nging from it. The observer brings in a couple of friends and after digging a short distance discovers what appears to be a layer of smooth stone over a layer of logs. After more effort, the pit floods and the effort is abandoned for several years.
Over the next 200+ years, a series of attempts to escavate the treasure pit meet with failure, often disaster in the form of accidents, deaths, mysterous illnesses and going broke in the process. The original site is lost in the many attempts to bypass the flooded pit and the island is nearly covered with debris, junk and the equipment left over the years; it's ruled unstable due to all of the digging.
The background would be a bit more detailed to give the story some depth, but essencially, the treasure's mystery grows and all of the associated events lends the idea that it's all cursed and can't be retrieved. Enter a mysterous and obsessive investor who is willing to fund a no-holds barred, non-stop effort to find the treasure once and for all. By this time, the treasure, if it ever actually existed, is rumored to be exceptionally valuable.
The PC's would be the actual hunters, experts and laborers in whatever may be needed to figure out how to drain the pit and work through the "booby-traps" that have plagued previous efforts, and sicover the mystery of the pit.
My question is, does this seem like a workable concept and would it draw anyone's interest?
And, of course, if it does seem workable and may get enough interest to draw players, anyone interested in Co-GMing it to develope the backstory, plot and events? I'm looking at a freeform format with miminal guidance to keep things moving toward the climax as well as to keep the players guessing.