What are Utility Tokens in Cryptocurrency?

Utility tokens are a type of cryptocurrency that provide users with access to a product or service offered by a project launching an ICO. These tokens can be used to purchase services, access features, or interact within the platform created by the project. Unlike security tokens, utility tokens are not intended as investments; instead, they function more like digital coupons or keys to access certain functionalities of the project's ecosystem. Utility tokens are crucial for funding projects and for operational purposes within their respective platforms. For a comprehensive look at utility tokens and their applications, this article offers detailed insights: paybis.com/blog/glossary/what-are-utility-tokens/ It explains the importance of utility tokens in the broader context of blockchain innovations and crypto-economic models.