eCommerce - Monday, December 17, 2007
Live Gamer Raises $10M To Become Spot Market For World of Warcraft Heroes of Azeroth Focal Swords And Other Virtual Must Haves
About a year ago, sources reported that eBay was shutting down the sale of virtual items that could be used in virtual worlds like World of Warcraft and Neopets. That sucked some oxygen away from the world's merchants of virtual items but has created an opportunity for others to create a market.
Live Gamer operates a platform for real money trading of virtual property. It is partnering with top massively multiplayer online game (MMOG) publishers and virtual world operators including Funcom, Sony Online Entertainment, 10TACLE STUDIOS, Acclaim, GoPets, and Ping0 Interactive. The company was founded by industry veterans and backed with $24M in venture funding from Charles River Ventures, Kodiak Venture Partners, and Pequot Ventures.
Live Gamer is led by co-founders Andrew Schneider who was GM at Sony Pictures Digital and Mitch Davis who was founder and CEO of Massive, the video game advertising startup that was bought by Microsoft.
The company says it will help players to combat what are known as gold farming operations, or the sale of fake virtual properties. Live Gamer might become the face of evil for fantasy gaming purists who believe that the sale of virtual goods violates their sense of honor in earning such goods.
Fantasy gamer purchasing coveted items
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