utility token
noun
: a digital token of cryptocurrency that is issued in order to fund development of the cryptocurrency and that can be later used to purchase a good or service offered by the issuer of the cryptocurrency
sold utility tokens as a method of fundraising for the start-up
Examples of utility token in a Sentence
Recent Examples on the Web
Switzerland categorizes digital assets into three groups: payment tokens (e.g., Bitcoin), utility tokens, and security tokens.
—
Tonya Evans, Forbes, 22 Sep. 2024
At this point, the cryptocurrency, which is a utility token, was up roughly 53% after falling below $240 in mid-December, additional CoinMarketCap data reveals.
—Charles Lloyd Bovaird Ii, Forbes, 16 Feb. 2024
Just for level setting, talk to us about the difference between a fungible utility token and a non-fungible utility token.
—Tax Notes Staff, Forbes, 28 Nov. 2023
And then utility tokens, which can be fungible or non-fungible.
—Tax Notes Staff, Forbes, 28 Nov. 2023
As a utility token, $ESX provides a mechanism for participation in the platform, not just as an investment vehicle but also as a tool for governance.
—Nick Kasmik, USA TODAY, 23 Aug. 2023
Here’s a breakdown of what these crypto financial instruments entail: BNB is a token issued by the exchange which was initially created as a utility token that offer discounts on trading.
—Nate Dicamillo, Quartz, 6 June 2023
Examples are automatically compiled from online sources to
show current usage.
Read More
Opinions expressed in the examples do not represent those of Merriam-Webster or its editors.
Send us feedback.
Tonya Evans, Forbes, 22 Sep. 2024
At this point, the cryptocurrency, which is a utility token, was up roughly 53% after falling below $240 in mid-December, additional CoinMarketCap data reveals.
—Charles Lloyd Bovaird Ii, Forbes, 16 Feb. 2024
Just for level setting, talk to us about the difference between a fungible utility token and a non-fungible utility token.
—Tax Notes Staff, Forbes, 28 Nov. 2023
And then utility tokens, which can be fungible or non-fungible.
—Tax Notes Staff, Forbes, 28 Nov. 2023
As a utility token, $ESX provides a mechanism for participation in the platform, not just as an investment vehicle but also as a tool for governance.
—Nick Kasmik, USA TODAY, 23 Aug. 2023
Here’s a breakdown of what these crypto financial instruments entail: BNB is a token issued by the exchange which was initially created as a utility token that offer discounts on trading.
—Nate Dicamillo, Quartz, 6 June 2023
Dictionary Entries Near utility token
Cite this Entry
“Utility token.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/utility%20token. Accessed 30 Dec. 2024.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share