basicly where you can stream media files form the computer to your ps3... and it can encode them on the fly so u can play videos and music that might not be compadiable to the ps3
It is a program that you download and install onto your computer. You then synch it up with the media you have on the hard drive (or external), and it will make the media acessible to all computers and PS3's on your local internet (probably your house and w/e your router connects to). Your PS3 can recognize it as a media server (Computer must be on) and you can access your movies on your computer. It will also convert AVI files to something the PS3 can read on the fly. Its pretty awesome, but I'm having issues with it now that I've updated to 2.0. It stops streaming about halfway through.
once you have installed TVersity on your PC and adde some files, you "search for server" on your PS3, then go to the type of file you want to read (audio, video ...) and you can either read the file or save it to the HDD, it's transcoding it on the fly (some have audio problems sometimes) ; only problem is it doesn't recognise the folders, I always go to the "all video" for example because I don't want to rename my PC folders
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