Web3 protocols allow Data to packaged into tradeable instruments while preserving access (ownership, usage and monetization) rights. This core primitive will have several downstream effects, some of which I try to capture in this thesis.

the mental model of shares doesn't do a great job with Data Access rights. Fitting these requirements awkwardly on to the existing financial infrastructure calls for changes to the existing ways in which shares work.

By this definition, Data itself does not qualify as a financial asset. The right to access (own and/or use) Data in a tradeable instrument, however, does qualify as a financial asset.