Utility tokens are tied to a certain blockchain or a certain project and the goal is to provide a certain type of utility.
For example, a utility token may offer discounts in term of fees, rewards or other benefits.
Filecoin is a good example.
Filecoin (FIL), is the utility token tied to the decentralised storage network Filecoin. FIL can be used to gain access to the platform’s network and/or storage space.
CEX tokens often qualify as utility tokens, too.
For example, Cronos (CRO, for the crypto.com exchange) or Young (YNG, for the Young Exchange platform).
I’ve crossposted this article on Publish0x.
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