The disc reading problem is quite a common one!
It is caused by the laser coming away from the drive and you need to readjust the laser to get it to work.
Sounds bad but at least the drive is not broken JUST the laser needs readjusting.
Now let us look at how you can fix this:
The normal way to fix this is to send it in and they will do the work for you at the factory. However it will cost about $150 and also you will have to wait about 4 weeks.
If you do not play on your PS3 that much this may be the best solution for you.
Solution 2: For A Faster Fix
If you want the games reading problem fixed quickly then you should check out some good PS3 Repair guides.
They normally include videos showing you how to readjust the laser - it takes about 20 mins.
Make sure you check out the full reviews below so you can fix a good one!Click Here For A Full Review Of The Best PS3 Disc Reading Fix
Hope this helps and if so please leave a comment or if you have any questions let me know?