Jamie Turner, 26, and Myles Bell, 23, repeatedly had sex with the girl, aged 14, and another girl, 16, after giving them alcohol and cocaine, Liverpool Crown Court heard.
The "exploitative" men filmed the abuse and used it to threaten their victims, police said.
Turner, of Davidson Road, Old Swan, and Bell, of Makin Street, Walton, were each sentenced 12 years in jail.
Andrew Ford, prosecuting, said Turner filmed the 16-year-old having sex while there were other men in the room.
Both men were found guilty of two counts of having sexual activity with a child and two counts of inciting a child into sexual activity.
Turner admitted four counts of taking indecent images of a child, involving filming degrading videos of the 16-year-old girl.
Judge Anil Murray said they had used the younger girl "for your own sexual gratification for 15 months", treating her as a "sexual plaything" without a "care for her feelings."
In victim impact statements read out to the court, one girl said she was "so embarrassed and humiliated" by what the men did to her.
The other victim said they used her "in the most horrible and sickening way".
Det Ch Insp Mark Kameen said the crimes were "despicable and exploitative".
Judge Murray ordered the men to sign the sex offenders register for life and imposed indefinite restraining orders and sexual harm prevention orders.
Two men have been jailed for sexually abusing girls in Merseyside.