I did that (sold everything, and went traveling), and now I own very little stuff. Apart from the mandatory laptop I need for work, and clothes, I couldn’t care less about everything else.
Before selling everything, I had a sick setup of dual monitors, and external DAC, speakers, headphones, keyboards, etc. Today, I need only laptop. I was considering getting one monitor, but can’t seem to justify the need.
It really teaches you how little material crap you need.