Sony to expand 'transaction-based game play'

The PS3 manufacturer said the feature that allows gamers to trade virtual items for real money will be expanded into two new titles to be released by its in-house game studio.

Those titles, The Agency and Free Realms, use technology from Live Gamer that serves as a secure back-end for online marketplaces. The company incorporated Sony's Station Exchange technology into its own product earlier this year.

Station Exchange made its first appearance in 2005 as part of Sony's MMORPG Everquest II, and allowed the company to offer auctions of virtual goods between players.

Estimates of the value of such a market for these virtualized goods have run as high as $800 million annually -- a staggering number considering many would say "it's just a video game."

"We are actively exploring free-to-play and other revenue models, and always looking for new ways to engage and entertain gamers," SOE president John Smedley said in a statement. "We trust them to handle this area of the business for us so that we can focus on creating and growing our games."

Of the games, The Agency is a spy-themed first person shooter, allowing full customization of attire, weaponry, gadgets, vehicles, gear and aliases. Free Realms is a fantasy adventure game offering deep customization of a player's avatar.

It was not announced when these titles will be released.