Digital Goods; Future Store of Value

Digital Goods As Store Of Value

Being informed about the potentials digital goods have for the future should have made you to become a hopeful investor in the Blockchain industry today. On one of my article on digital goods as store of value, I introduced digital goods as store of value. Here, am going to educate you on how digital goods are store of value.At first, What is a digital good?

This is anything that could be generated, saved as file, transfered through digital means, and also have value attached to it. May I let you to know that a digital good could be seen as a part of Smart Contract? As smart contract, it is powerful with its use of ‘if this than that’ rules which allows some maximum level of control of digital goods, which in turn defines it’s availability or scarcity, what happens when it’s sold or ownership is transfered.

Due to the method of it’s storage, maintenance, and the intelligence in which digital goods are developed, they’re in a decentralized manner via block chain, with no one in charge of the transaction, and the ability of each miner to individually confirm the transaction, Blockchain driven assets have evolved to become stores of value. The digital store of value have also erupted in different angles like the cryptocurrencies which some are optionally used as payment means like the Bitcoin, Ethereum etc, while others serve as token created to support DEFI and other derivatives of Crypto Assets. These crypto assets are all store of value as we have witnessed since it’s creation, the rise and fall of their value which is also of the same physical store of value.

Even as cryptocurrency have proving to be store of value, many are still not seeing any meaning to investing in cryptocurrencies let alone this period Bitcoin and other crypto’s have nosedived. To them, cryptocurrency is a digital representation of nothing tangible.

In the past, our professor’s and economist’s educated us that anything ‘tangible’ is recognized as having value. As it was widely taught in colleges, anything that we can see, touch, and move is said to have value. And this narrative have had an immense damage to our folks who have failed to get rid of it. And tend to classify digital goods as non potential stuff to invest in. Surprisingly, these set of people buy audio CDs to play and listen at home. While some of them are movie producers and expect people to buy their digital goods. What a paradox? This generation have known that smart contracts and the digital goods are reflecting the real store of value, and have held this belief dearly and invested in them.

If not for the long period I served as a stamp collector, I wouldn’t have believed this ideas, but, because of my exposure then, I believed it and have taken part of it’s goodies by investing in them.

As it have always been with collection of stamps or cards, I was bothered with getting them graded, storing and protecting them from damage as to retain their value. This is because I value them and they reflect how much I can make at any given time when I sell them. Since stamps selling is usually person to person, it also involves different risk and cost to getting the high cost stamp dealer who will price it higher. But, with digital trading on crypto exchanger or NBA TopShot, it’s usually fun and less risky compared to carrying your stamp from one place to another in search of a dealer with higher bid. In digital trading, none of those risks exists and their values are also dictated by the same law of supply and demand.

As I troop in to invest on digital assets, I realized NBA TopShot offers a market where I can sell my cards digitally also. As their site was created on Flow Blockchain, enables me to see every card being offered and their serial numbers, their prices, and lots more which I couldn’t have seen when I was practicing the traditional method of selling my cards.

Haven learnt about this digital system of selling my cards and owning digital goods such as cryptocurrencies, it have really shaped my income and increased my standard of living.

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