Utility Token

A utility token is a digital asset used to access or unlock specific services, features, or products within a blockchain-based platform or application. Think of it as a digital "ticket" or "voucher" that grants you the right to use certain functionalities, rather than representing ownership or a stake in a company. Utility tokens are typically issued during initial offerings to fund development, and their value depends on the demand for the platform’s services. They are an essential component of many blockchain projects, enabling users to participate in the ecosystem and utilize its features.