What is a Utility Token?

A utility token is a digital token that is issued in order to either fund development of a cryptocurrency and/or project/platform, or it may serve a “Service” or “Utility” feature on the platform.

It also might be used initially for funding and later used to purchase a good or service offered by the issuer of the tokens.

Utility tokens are digital assets that have been specifically designed to be spent within a certain blockchain ecosystem.