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LiveGamer, an in-game commerce and virtual trading firm, has received $24 million in its first round of funding. The round was led by Charles River Ventures, Kodiak Venture Partners and Pequot Ventures. The company, based in New York City, has not yet launched, but says has deals with Sony (NYSE: SNE) Corp.’s Sony Online Entertainment division, Funcom GmbH, Ping Interactive Ltd. and other online-game operators to integrate its trading system with their titles, reports WSJ. The WSJ makes it sound as if this is the first “industry-sanctioned” trading platform, but we reported on Playspan creating a similar platform earlier in the fall.
Like PlaySpan, LiveGamer will try to become the official commerce provider for these game publishers, and avoid the controversies that companies like *IGE* have been mired with, including “gold farming”, which all game publishers have banned. Live Gamers says players who sell goods through its marketplace will keep 90 percent of proceeds, with the remainder split between Live Gamer and the publisher. More in release here.