Content sharing using personal web pages, blogs, or online social networks is a common means for people to maintain contact with their friends, colleagues, and acquaintances. While such means are essential to overcome distances, using infrastructure services for location-based services may not be desirable. In this paper, we analyze a fully distributed variant of an ephemeral content sharing service, solely dependent on the mobile devices in the vicinity using principles of opportunistic networking. The net result is a best effort service for floating content in which: 1) information dissemination is geographically limited; 2) the lifetime and spreading of information depends on interested nodes being available; 3) content can only be created and distributed locally; and 4) content can only be added, but not explicitly deleted. First we present our system design and summarize its analytical modeling. Then we perform extensive evaluation for a map-based mobility model in downtown Helsinki to assess the operational range for floating content, which, at the same time also validate the analytical results obtained for a more abstract model of the system.