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
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.
The strict interpretation of securities laws that follows from Gensler’s school of thought, while intended to protect investors, may have inadvertently pushed cryptocurrency innovation toward meme coins rather than utility tokens. — Boaz Sobrado, Forbes, 18 Jan. 2025 These tokens, ranging from utility tokens for decentralized applications to governance tokens for protocols, will attract domestic and international capital while encouraging participation in U.S.-based projects. — Leeor Shimron, Forbes, 23 Dec. 2024

Word History

First Known Use

2016, in the meaning defined above

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

Rhymes for utility token

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Browse Nearby Words

utility room
utility token
utilization coefficient
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Cite this Entry

“Utility token.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/utility%20token. Accessed 21 Apr. 2025.

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