As a kid, most of us were attached to our favorite stuffed animal, blanket or another inanimate object. We'd carry it wherever we went. So much so, that it became part of our then identity.

Throughout our lives, our physical possessions become associated with our identity. You might be known for your collection of Marvel Cinematic Universe DVDs or baseball cards. You can prove they're yours and take them with you wherever you go.

But, this isn't the case in today's internet because you don't technically own any of your digital assets.

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

Web3 unlocks this formula for you, Web3 Enables True Ownership of Digital Assets

Ownership in Web3 means that the contributors— builders, operators, and users— own a piece of what they use.

Thanks to Web3, digital assets are recorded on the blockchain, so you can prove ownership. Also, you can transfer ownership of digital assets to someone else through secondary marketplaces or direct exchanges.

Since you can prove and transfer ownership, you gain true ownership of your digital assets in the next iteration of the internet.

There are three digital assets that are currently revolutionizing ownership online.

Cryptocurrencies and Tokens

A cryptocurrency is a digitally-native currency that is secured by cryptography and operates on the blockchain, which makes it impossible to counterfeit or double-spend. Because cryptocurrencies are built on blockchain technology, there is a distributed ledger across disparate networks of computers that keeps up with each transaction.

Cryptocurrency can feel like a vague term. So let's clarify.

A cryptocurrency is the native asset of a given blockchain. For example, some popular blockchains are Bitcoin, Ethereum, Cardano, and Avalanche, and their native assets (cryptocurrencies) are Bitcoin, ETH, ADA, and AVAX, respectively.

The distributed ledger allows you to prove ownership of your cryptocurrency (e.g. ETH) on the blockchain (Ethereum).

There are numerous ways to participate in any blockchain. You can be part of an NFT project, fund a Decentralized Autonomous Organization (DAO), or use decentralized applications (or dApps).

Most NFT projects, DAOs, and dApps have their own native token, which can be used to interact with them. For example, Bored Ape Yacht Club is an NFT project based on the Ethereum blockchain. The project team created a native token called ApeCoin, which was given to the NFT holders, ultimately transforming into a DAO. ApeCoin is a token used as both a governance token to vote on the direction of the project and used as a utility in its future ecosystem.

NFTs unlock the ability for true ownership of digital goods.

NFTs are an evolutionary step toward Web3 adoption as content online is increasingly created, operated, and owned by the users.

Web3 Domains

In the future, internet users will own digital property.

A domain name should be your digital property that you own, not something you rent.

In Web3, it's possible.

Say hello to Web3 Domains.

At their simplest form, Web3 domains exist as NFTs on the blockchain. They are unique to you and are stored in your wallet to provide special benefits that go far beyond traditional domains. It is a name to login everywhere you go. A name to pay and get paid with. A name to prove ownership of your data and digital assets.

With Web3 domains, you hold the key to your self-sovereign identity and you own a digital asset.

Your crypto wallet is great for holding your crypto, your NFTs, and tokens on a specific blockchain, but wallets can't identify unique users. On top of that, one person can have multiple wallet addresses.

With your Web3 Domain, you will have the power to associate your digital assets from all your crypto wallets.

Just like when you were a kid, you're able to carry your favorite items wherever you go, but now it can be digitally. Your digital assets become attached to your digital identity similar to real life.

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