The value of virtual: Economies are powered by ownership of the intangible

Opinion by: Yat Siu, executive chairman and co-founder, Animoca BrandsA 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 source: https://cointelegraph.com/news/the-value-of-virtual-economies-are-powered-by-ownership-of-the-intangible?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound