Capital Entrepreneurs member company Entrustet was featured on BBC and Wired after cofounder Nathan Lustig attended the first annual Digital Death Day at the Computer History Museum in Mountain View California.Â From the BBC article:
“There’s no standard practice across the industry yet. There are no norms for how digital assets are passed on to heirs,” says Kaliya Hamlin, another of Digital Death Day’s organisers.
And it could be the case that digital assets could have real-money value. Domain names can be sold for large sums of money and even Twitter accounts can be monetised with “sponsored tweets”.
‘Real money transactions’
Jesse Davis, co-founder of Entrustet, a company allowing the creation of a will for digital assets says: “There are two types of value stored in your online accounts, economic and sentimental… both types of assets need to be considered carefully in building a proper digital estate plan.”
Despite investing a huge amount of time into characters, players don’t have any ownership rights to [them]Tamer Asfahani
Indeed, some massive multiplayer online games (MMOGs) rely on real money transactions and with between 15 and 20 million users paying to play the games, it can be very lucrative.
On 20 May 2010 an event known as â€œDigital Death Dayâ€ brought together the businesses of social networking, data management and death care.
One of its organisers, Jennifer Holmes, says: â€œWe have reached a critical mass of personal data online.â€ â€™Critical massâ€™ oughta mean that we violently explode, but maybe the mortality rate of Internet users will be a little slower.”
She is referring to the billions of pages held by Facebook and other social networking sites, as well as blogs, online gaming sitesâ€¦ basically anything into which we put dataâ€¦ data which, in most cases, remains after we die.