Utility token

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In the context of blockchain, a utility token is a unit of value that only exists as a registry entry in the blockchain.

Utility tokens are often issued by start-up tech or crypto businesses.

The utility tokens are issued with the intention that they be sold or exchanged for conventional currency or cryptocurrency in due course, to fund further development of the start-up project.

Unlike cryptocurrency coins, utility tokens do not have their own blockchain.

See also