Virtual trading site launches with $24m investment

Former Massive Inc founder Mitch Davis has launched virtual trading site Live Gamer with the aim of protecting consumers and publishers from unethical trading.

The business has partnered with MMOG publishers including Sony Online Entertainment, 10tacle Studios, Funcom, Acclaim, GoPets and Ping0 Interactive, and is backed by USD 24 million in venture capital.

"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," commented Andrew Schneider, co-founder of Live Gamer.

"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."

The company is co-founded by Mitch Davis, former founder of Massive Inc and CEO of Brash Entertainment. Andrew Schneider has held executive management positions at Sony Pictures Digital, NBC and Wind-up Records.

"Even in illicit form, the virtual trading economy has proven that vast demand exists; now Live Gamer will allow this thriving marketplace to reach its full potential," offered Davis.

"We're confident in the Live Gamer team and its ability to execute successfully, together with the industry's leading publishers, to create a safe and easy option for real money trading."