Everything you need to know about digital asset ownership

In Web2, true ownership does not exist, only leased ownership.

**There are two reasons ownership is a myth in Web2.**

1. You borrow digital products on the internet. If you ever “buy” a song from iTunes music, an e-book from Amazon, or a movie from the Microsoft Store, you don’t actually own them. You just purchase a license to access them. One that is revocable by the company at any moment or permanently lost if your account is deleted.
2. You cannot transfer ownership. When you buy an ebook on the Kindle, your book is bound by both the platform, Amazon, and your account. You buy the license to use it and don’t even know.

Web3 unlocks a simple formula for ownership of your digital assets.

**True Ownership = Proof of Ownership + Transferability of Ownership**

There are three digital assets that are currently revolutionizing ownership online. All of these are built on the blockchain, which proves ownership and allows for the transfer of ownership.

1. **Cryptocurrencies and Tokens**
The distributed ledger allows you to prove ownership of your cryptocurrency (e.g. ETH) on the blockchain (Ethereum).
Most NFT projects, DAOs, and dApps have their own native token, which can be used to interact with them and own a piece of the project.
2. **NFTs**
NFTs make it possible for gamers to own in-game items, have real estate in a metaverse, contribute to their favorite artists and much more!
3. **NFT Domains**
NFT Domains are here to serve as the digital identity layer of Web3 and allow to associate all your digital assets to.

Want to learn more? Check out [this article]( that takes about digital asset ownership more in depth.

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3 thoughts on “Everything you need to know about digital asset ownership”

  1. “He who van destroy a thing, controls a thing”

    -Paul Atreides

    And I can certainly destroy NFTs if I send to the wrong address…

    Reply
  2. > You borrow digital products on the internet. If you ever “buy” a song from iTunes music, an e-book from Amazon, or a movie from the Microsoft Store, you don’t actually own them.

    That is wrong already. iTunes and most other online music sellers ditched DRM years ago. All my music was (free of charge) converted to normal music files I can play on any device which supports the format, offline or online, and I can give copies to whoever I want.

    Reply
  3. Okay, so let me pose a question with regard to “land” in said metaverse. Same problem exists as it does in our precious real world…

    An individual obtains ‘X’ amount of contiguous land space. Another obtains adjacent land and, over time, obtains the remaining land around all sides of the first individuals’ property. The second individual (holding a very large land mass), decides to create a lake right on top of where individual 1’s property happens to be, in order to develop “lake front properties” on his large holding. Clearly this makes individual 1’s property drop in value like a rock…

    Reply

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