Utility Token

Utility tokens are often used as a means of exchange for accessing a particular service, product, or feature within the platform or network. In a blockchain-based cloud storage platform, users may be required to use a particular utility token to unlock additional storage space or features. Similarly, in a decentralized social media platform, a utility token may be necessary for accessing premium content or rewarding other users for their contributions. Utility tokens are distinct from other digital assets like cryptocurrencies and security tokens because they don't represent ownership in a company or investment opportunity. Rather, their value stems from the access they provide to products or services.