Digital Assets: What Are They?
Think about your family photos and videos. In the past we all had shelves of video tapes and photo albums full of our most precious memories. Now, instead of photo albums, videotapes, and DVDs, most of our family photos and videos are digital. Even if these photos and videos lack commercial value, they most certainly have sentimental value, and you’ll want to preserve them for your family and friends. Also, think about your social media accounts that also contain photos and videos. These accounts also have value to your loved ones after you are gone. For example, your Facebook account can serve as a memorial after you pass away. Even more important, your Facebook account can serve as a way for your family to notify your extended circle of friends when you are gone.
When you consider all of the accounts that you regularly access (more than 130 on average), the list becomes quite long.
Examples of digital assets may include:
- Social media accounts (e.g., Facebook, Twitter, LinkedIn)
- Financial accounts at brick-and-mortar and online institutions
- Business documents and other files stored in the cloud
- Cryptocurrency
- NFTs
- Databases
- Device backups
- Internet domain names and uniform resource locators (URLs)
- Streaming service accounts (e.g., Netflix, Peacock, Hulu)
- Merchant accounts (e.g., Amazon, Etsy, eBay)
- Gaming tokens and in-game properties
- Virtual avatars
- Points-based loyalty programs (e.g., for groceries, gas stations, airlines, and hotels)
- Rights to intellectual property, artwork, and literature
- Online betting accounts
- Monetized video content (such as YouTube channels)
