You need to have your Playstation 3 on 3.55 firmware before you can jailbreak, you can also look up E3 Flashers if you want to downgrade your Playstation 3 firmware. You will need a USB drive to put the Custom Firmware on so you can install it on your system. There are many tutorials on youtube showing you how to jailbreak your Playstation 3 and installing homebrews, mod menus and other things. Check this thread for firmwares.
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