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
Word History
First Known Use
2016, in the meaning defined above
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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