Hermes, the Spanish homebrew creator behind the likes of PS2Reality Mediaplayer and Guitarfun for the PS2 has released a new loader for PS3 that will allow you to load PS2 homebrew. There are certain tools needed such as firmware greater than v1.90, Swap Magic and some BIOS files. However, for the moment it seems to execute only Guitarfan and Mediplayer PS2 homebrew, but it's good start all the same.
Tools Needed Fw > 1.90 + Swap Magic > 3.6 & some files from PS2 Bios.
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