Opinion by: Yat Siu, executive chairman and co-founder, Animoca Brands
A discussion on digital property rights, copyright, intellectual property, the open metaverse, AI and value without physical form.
When I attend conferences and similar public events, someone almost always approaches me to ask how cryptographic tokens (fungible or non-fungible) can have value even though tokens are virtual and do not exist in the physical world. It’s a surprisingly common question, especially one-on-one.
Virtual objects like NFTs and cryptocurrencies are both digital and intangible; their existence is not based in the real (physical) world, and (unlike digital currencies) they generally do not have backing by real-world institutions.
The ability to have value (specifically, monetary worth) is crucially important regarding the open metaverse, the decentralized internet of Web3 characterized by true digital ownership (see What IS the open metaverse?).
I recently delved into the value of the virtual during an<a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=fcqbWQjG_Jo"