For those of you who have bought a new PSP-3000, there is some great news on the homebrew front. Thanks to PSP developer MaTiAz, a new savegame exploit has been found in the PSP game Gripshift £79.24 (US version) (US version only.) In a similar fashion to the GTA savegame exploit, this ‘bug’ has allowed the devloper to run unsigned code. It does not allow access to flash(0), so there is no hint of a downgrader becoming available, but it does mean that with some development work it should be possible to start playing homebrew games and applications on the PSP-3000 (PSP Brite.)

Copy the contents of MS_ROOT into the root of your memory stick (this will overwrite the first GripShift savegame slot).
Launch the US version of GripShift.
Load up the game (if it doesn’t autoload).
See your PSP run unsigned code.
It’ll autoexit after some time. You can use the home button to exit too if you’ve seen enough.

FAQ
—
Q: Will this allow downgrading?
A: No, because this is an usermode exploit and functions required to downgrade are
only available in kernel mode.
Q: Why the name?
A: Because the original exploit was found by overwriting the player name with “this is spartaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa”.
Q: Can/Will Sony block this?
A: Yes.
Q: I wanna make homebrew using the exploit. How?
A: Get FreePlay’s GS SDK: http://f6y.ath.cx/pspdev/sparta_sdk.zip
It has some constraints though, check the readme.
The Hello World was written with it.
Credits
——-
Exploit and binary loader: MaTiAz
SDK: FreePlay
Greets go to Dark_AleX, Mathieulh, jas0nuk, Hellcat, etc. etc. etc, you know.

Other good news is that the Noobz team, responsible for the original eLoader have agreed to work with MaTiAz and FreePlay to develop this eLoader as quickly as possible.

Its exciting times for those who have not had opportunity to play homebrew on their PSP, and it reminds of when the original GTA exploit was discovered.

Expect to see copies of the US version of Gripshift appearing on eBay at highly inflated prices in the near future. Amazon have a copy for Gripshift £79.24

Via : Exophase