Is it possible to somehow create a settings table in the database?

Question

MySQL

Is there any way to create a configuration table in the database?
For example, something like this:

id | param | value
1  | OPEN  | 1
2  | ACCEPTS | 1
3  | TITLE  | some title
4  | BALANCE_CURRENT | 1500
5  | BALANCE_TOTAL | 100500
6  | ANOTHER_PARAM | ANOTHER_VALUE

Here the problem arises that the "value" column has different data formats.
In Laravel, you can quite easily work with json / jsonb, so I think it can be stored in them
. It is not reasonable to use files for this, because this data will change quite often.
In general, is there any solution for such a problem?