Utility Tokens are a more abstract category of Digital Assets and are used to grant rights or access to goods or services. Utility Tokens can represent all kinds of rights, such as the right to be first in line to buy the latest phone to the right to be given pre-released access to an online game or platform.
Utility Tokens are specifically designed to represent the rights to access the goods or service and not represent the goods or service itself. Utility Tokens are best used as a method by companies or organizations to grant customers special rights or privileges creating an economic model or market place around customers and rights to the goods and services that a company offers. 1)
Utility Tokens can be a superior method to traditional ways individuals or companies grant customers special rights. Utility Tokens: