New York - Live Gamer, an online platform for real-money trading of virtual property in massively multiplayer online games and virtual worlds, on Monday debuted its service and announced $24 million in venture capital financing from Charles River Ventures, Kodiak Venture Partners and Pequot Ventures.

The company has partnered with game publishers including Funcom, Sony Online Entertainment, 10TACLE Studios, Acclaim, GoPets ad Ping0 Interactive to host virtual exchanges for their various games and virtual worlds.

"Virtual item trading is already transforming the way people experience MMOGs and virtual worlds, but in its traditional underground context, the impact could be as easily negative as positive for a given player or world," said Live Gamer co-founder and president Andrew Schneider.

"Live Gamer has developed a platform with all the integrity, security, and professionalism of any real-world marketplace, and we're working hand-in-hand with publishers to ensure a positive experience for every player."

Live Gamer will allow virtual sellers to keep 90% of proceeds from items sold through the service, while splitting the rest between itself and game publishers.

Related Links:
http://biz.yahoo.com/prnews/071217/aqm071.html?.v=32

http://www.livegamer.com