How are related digital assets and cryptocurrency?

Our millennium was marked by the emergence of ultra-sophisticated technology, robotics, and the total computerization of society. It would seem how rapidly scientific progress has developed from the first steam engines to complex neural networks that independently create works of art, write texts, and the behavior of artificial intelligence. Every person from all over the world has free access to the Internet, uses its properties, and can find anything, anywhere.

The revolution also took place in the financial sector. With the advent of modern technologies, the question of the development of this industry arose, and the introduction of modern means of exchange and transmission into it. The ability to speed up your transactions, and the need to record and control them, created virtual assets. Nowadays, almost everyone knows the words “cryptocurrency”, “Bitcoin” and “NFT”. However, what is the definition of digital assets, how did they come about, and what are their advantages? We will answer all these questions in this article.

What is a Digital Asset?

Let’s start with the definition of digital assets. As a rule, anything created in digital form, which has a special right of use and value, can be called a digital asset. They are becoming more and more popular due to their constant integration into global economic and financial processes. In this case, most of the company’s digitized intellectual property has a monetary or intangible value. Until 2009, the definition of digital assets only applied to scanned documents, and data belonging to companies was used as a means of proving the value of another item. However, with the advent of cryptocurrency and Bitcoin, the rules of the game have changed, and the use of digital assets has reached a new level.

Why Do We Need Digital Assets?

It’s hard to overstate the value of digital assets these days. Digital assets cover almost all spheres of life. It can be a word or an immovable. Everything that has the potential to create value, or everything that can be used to increase the object value for the owner, has already become a digital asset. Currently, such assets help in the integration of young and ambitious business projects, as they can reinforce the right of the owner in a digital format. Digital assets have their immediate value, used to provide important services: sales support, product development, marketing design, blogging, etc.

Types of Digital Assets

Currently, there are millions (even billions!) of digital assets of various characteristics, forms, content, and value. That is why, for convenience, it is customary to divide them into certain groups or species. We have collected common digital assets types. Although the list may change and expand due to the evolution of the term itself, these include photos, audio, video, documents, books, illustrations, animations, manuscripts, logos, and metadata. Of course, this is not the whole list. In addition, it is customary to divide digital assets built on the blockchain or related technology:

• Nonfungible tokens
• Cryptocurrency
• Tokens
• Crypto Assets
• Tokenized Assets
• Security Tokens
• Central Bank Digital Currencies

Digital Assets examples

Вище ми зазначали види цифрових активів, які можна навести й у якості прикладів. Це можуть бути documents, audio, videos, logos, slide presentations, spreadsheets and websites. Крім того, найпопулярнішими цифровими активами можна назваити non-fungible tokens (or NTFs) and digitally rendered images. Вони вважаються креативним ресурсом, що найкраще підтверджуеє право власності творця.

Why Invest in Digital Assets?

The benefits of digital assets for business are simply colossal at the moment. They can help young businesses become stronger and modernize the work of veteran companies with a rich history. First of all, digital assets are a growing industry. Over the past two years, its average has increased by $100 billion. In today’s world, where the problems of pandemics have become frequent, the digital ecosystem helps businesses make remote payments, which has created a new digital ecosystem. Well, of course, investments in any digital currency will bring passive income to its holder. After all, investing in digital assets, your money will accumulate depending on the calculation of time and other factors. Well, don’t forget about low transaction fees, a high level of security, and new market opportunities. All these factors make digital asset investments the best companion of modern business.

How to Value Digital Assets

One of the most important questions regarding digital assets that interests investors is the determination of their value. Depending based on the activity and classification of a digital asset its value should be determined and assessed. It can be digital cash, cryptocurrency, stocks, or another financial instrument. All these factors directly affect the final value of the asset.

How is Ownership of a Digital Asset Shown on the Blockchain

Thanks to the invention and widespread use of blockchain digital assets technology in our lives, proving ownership of digital asset data has become an incredibly simple matter. Each transaction in the block is unique and immutable thanks to special cryptographic functions. Thanks to convenient functions, you can see when the transaction was created, by whom, and where it was sent. Many different companies are implementing proof of ownership through the integration of NFT technologies, which in turn is even more loyal to the right to own digital assets cryptocurrency.

Digital Assets Exchange

And indeed, as soon as people realized that digital assets have value, a large number of enthusiasts wanted to make money from them. This is how cryptotrading and the concept of trading digital assets appear. In general, this process is quite clear and logical. People who have an excessive amount of a certain asset put it up for sale, where it is bought by someone who needs this asset. Such trade includes all similar relationships, where demand is a moving lever for the development of this type of activity.

OctoGamex — NFT digital asset trading platform

OctoGamex is a decentralized platform that offers its users a variety of NFT digital asset database trading opportunities. We offer our users only the best deals and commissions. In addition, a large number of new features will be a pleasant and convenient bonus for new users. We have many different modes like buy, sell, trade, and auction. The benefits of NFT trading allow every Octies to buy their favorite collections and directly own their digital assets.

About OctoGamex

OctoGamex is a decentralized multi-chain NFT Trading Platform built for In-Game and Metaverse Assets, connecting gamers, games, and guilds around the world. We’re building a single access point to the GameFi NFT ecosystem, enabling among others such products as: Multichain Marketplace, CrossChain NFT Bridge, Marketplace Widget, Analytics for MMs, NFT rental and lending services, and would love to share more with you.

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