All things are yours

The Epistle reading for yesterday included a verse that I had never heard preached on or exposited, one that I had never attended to before, despite years of Bible reading:

For all things are yours, whether Paul or Apollos or Cephas or the world or life or death or the present or the future—all are yours, and you are Christ’s, and Christ is God’s. (1 Corinthians 3:21-23)

What do you make of that text? What does it mean and how should we apply it?