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In-Games Commerce Network LiveGamer Gets $24 Million Funding

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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.

2 Responses to “In-Games Commerce Network LiveGamer Gets $24 Million Funding”

  1. I have found another very trust worthy site ( http://www.RubyFam.com ) who also deals in virtual services. They play the game like everyone else and they take strict messures to assure your account safty and credit card safty. Their confirmation methods are different from many other sites I have tried and they make the transactions pleasant. I have found out the hard way that fast delivery is not always the best as some stores get you banned for not taking their time with certain items. Anyway thought I would let you know my thoughts. Thanks!

  2. As a buyer of game currency I see no use in this service. I both buy and sell my currency to a very trusted company ( http://www.mogs.com ) I do not have to wait for someone to bid or use a buy now feature and on top of that I do not have to pay any fees to a company. I get paid immediatly after I sell or on the flip side I receive what I paid for when I buy. These companies are releasing these platforms, yet why would a customer such as myself that has been using a trusted company switch to something not as user friendly??