Digital Goods — Are We Embracing the World of Virtual Assets as Much as We Should Be? An Opportunity of a Lifetime.
What are Digital Goods — Is There Real Value?
For those unaware of the terms ‘digital’ or ‘virtual goods’, it’s time to wake up and indeed stay awake. Technology has long surpassed our physical materialistic needs and introduced us to the era of digital ownership. Many find the idea of a completely decentralized virtual world alarming, overpowering or merely impossible, however the ambitious team behind ‘The Deep’ are galloping towards ubiquitous success while creating this virtual monster. Digital goods such as deep tokens provide a sense of ownership in a fully decentralized environment, running under a truthful democratic structure with a proof of stake concept. Digital goods not only open the opportunity of ownership in a new world, but allow users to profit in reality also.
The popularity of digital goods has been increasing in popularity globally, while edging close to a total value of $15bn, according to a report by Superdata. The ability for a decentralized organisation to reach out to a global audience, offering a new realm of ownership isn’t only opportunistic, but simply user compelling at best. With the global value of digital goods getting close to being double the Market Capitalization of the popular cryptocurrency Ripple, the question of value is assured.
Are We Ahead or Behind Ourselves?
While the mainstream gaming era has only just begun, the appeal factor for a fully digital world has never been stronger. With an already impressive $2.3bn expenditure on virtual goods in 2011 in the United States of America according to Techcrunch, a near $13bn growth in market value in 6 years is breadcrumbs compared to what is about to come.
In a slightly narrow minded world, gamers, emoji maniacs and technologists may be considered as the primary target as consumers for their own inventions, however research across multiple sources argues against these claims. Some examples of other industries affected by the digital goods takeover are as follows:
- Online Dating — Millions of dollars spent on online dating a year without making any actual physical contact;
- Education — According to the Daily Sabah, the number of e-book readers in the US has grown from 17% in 2011 to 28% in 2016, meaning over a quarter of US readers have now given up on a form of physical ownership in the expense of a digital asset.
Due to an increased luxury in platforms, we have simpler access to the sense of ownership at the touch of a screen. Having followed our own behavioural patterns for some years, humans have no right to be surprised at the rate virtual goods are being welcomed with open arms. The Deep’s platform aims to take a further leap into virtual eternity by creating, re-creating, trading and more importantly experiencing a fully digitalized autonomous world. Further to exploring virtual goods, many StartUps with successful ICOs such as Aeternity are aiming to revolutionize the world of insurance on virtual goods, creating a huge statement in demand for online ownership.
The Deep Influence on Revolutionizing Ownership
Other than concerns about importance of material ownership, news about breathtaking sums of FIAT (real money) currency in exchange for virtual goods isn’t quite new. In 2005, a british actor Jon Jacobs purchased a virtual Asteroid for no less than $100,000 USD. Rather than getting out of hand, Jacobs made a healthy virtual investment following the sale of the same asteroid in the world of Project Entropia (game) for $635,000 USD in 2010, making an incredible profit of $535,000 USD.
Stories such as Jacobs’ show the true potential of a commercially untapped market not only within gaming, but general virtual assets itself. Raging excitement has infected many fans of virtual worlds when The Deep was initially announced, making many more look forward to a promising Initial Coin Offering. As the first project of this kind since the increasing popularity of decentralized applications, The Deep promises limitless power for it’s users to enjoy. Or shall we say players instead?
The Deep token under the name of Deep Gold is aimed to be released in January 2018 according the the Official Project Roadmap, with wide availability across a variety of exchanges.