Selling unwanted items can be a great way to gain some extra income. Generally, when we think of things to sell we focus on physical items, but what about our digital property? Digital assets can either be something that you create like a photograph, ebook, or a digital artpiece (like a drawing or painting), or they can be things you have purchased like cryptocurrency (such as bitcoin) or video games.
These days, more and more of our assets are digital, and the content we store on our computers or phones can take up valuable virtual space that we may need to use later. Rather than simply deleting your digital goods, you might be able to sell them to someone else to enjoy.
This post will walk you through some of the digital property that you can sell and offers tips and best practices so you can sell with confidence.
1. Selling Digital Video Games, Characters, and Items
Generally, if you purchase a video game digitally by downloading it on your video game console or computer using a digital storefront (also known as a digital marketplace) such as Steam, the PlayStation Store, or Nintendo e-shop, it is tied to your account on that platform and can’t be sold.
There are some exceptions, but the companies that offer these digital marketplace services sell their products with the idea that you are paying for a digital license to play the content rather than owning the product directly.
However, there are still some ways to make money with your games.
For instance, you can sell various in-game items for cash, and some people have found success selling their old characters from games like World of Warcraft through third-party marketplaces (although this practice is generally frowned upon, as stated in the game’s terms of service).
A better practice is to sell in-game items for more of the game’s currency (such as at an in-game auction house or trading area) or even for currency on the game’s digital marketplace.
As an example, items from the game “Counterstrike: Global Offensive” can be sold on Steam for Steam Wallet credits (a virtual wallet with real-world currency used to purchase games).
2. Selling Photographs, Music, or ebooks
It’s much easier to sell digital copies of your own work, as opposed to assets that have been created by someone else (like a video game), since you own complete rights to the product.
You can choose to use a digital marketplace like Amazon or eBay, which come with the advantage of a large customer base and the convenience of having them do the heavy lifting for the transaction (like taking payment and handling refunds) without you needing to worry about it. Of course, these sites generally charge fees or take a portion of any profits as payment for using their services.
3. Selling Your Cryptocurrency
Perhaps the digital property with the highest return potential is cryptocurrency, also known as digital currency or virtual currency. Acquiring this currency can be relatively straightforward using software to mine it on your computer or phone, or by purchasing it directly, like from a Bitcoin ATM.
You can use virtual currency to purchase goods and services from anywhere that accepts it, online or otherwise. Virtual currency is advantageous because it isn’t regulated by a bank, so you don’t encounter things like exchange rates or taxes if you’re using it to purchase items worldwide.
You can also sell virtual currency to others, similar to how you would sell stocks or shares. This can be done in a variety of ways, including directly to another person or organization using a blockchain, or by using a digital marketplace like Coinbase or Bitstamp.
Also similar to stocks, the value of digital currency can fluctuate, so it does require a time investment to keep track of trends and to sell when the value is high.
Selling Virtual Property
Selling virtual property can be a lucrative way to make some extra cash on the side. With our increasing move from physical to digital content and entertainment, selling virtual property has become easier than ever before.
Would you try selling your virtual property? Let us know in the comments!