Live Gamer today announced its service as a provider of a publisher-supported, secure platform for real money trading of virtual property. Live Gamer is partnering with top multiplayer online game (MMOG) publishers and virtual world operators worldwide.
The company was founded by industry veterans and backed with $24 million in venture funding from Charles River Ventures, Kodiak Venture Partners, and Pequot Ventures.
Virtual trading today represents an estimated $1.8 billion in real money exchanged annually among MMOG players and virtual world inhabitants who buy and sell rights to use in-game goods, services, and characters .
To date, such transactions have usually meant braving an unstructured, unsanctioned marketplace in which players lack protection from unethical traders, and do business in violation of the publisher's terms of service.
By introducing a fully transparent, secure, publisher-sanctioned marketplace, Live Gamer helps protect content creators from the distorting impact of illicit trading on their intellectual property and provides a safe alternative for consumers around the world who spend millions of hours in-world every month.
Live Gamer was co-founded by Mitch Davis and Andrew Schneider. Davis, the company's chairman, revolutionized the video game industry by pioneering in-game advertising with Massive Incorporated, which was subsequently acquired by Microsoft.
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THE FROSTFIRE BUZZ TEST
1. Is this a unique product? 8/10
2. Is this business/product difficult to replicate? 8/10
3. Is this something that can appeal to a large global audience? 7/10
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