utility token


: 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

Word History

First Known Use

2016, in the meaning defined above

Time Traveler
The first known use of utility token was in 2016

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 7 Jun. 2023.

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