These tokens are designed to be used for a specific purpose, usually within the application/platform that they’re developed. the foremost common use of a utility token is as a payment option for purchases within the platform. for instance , OIPL tokens are regularly utilized for installment of property administrations inside the Obligr™ stage.

Utility tokens are released by a corporation to supply their users with a mechanism to buy a replacement company product or service, which has most likely been developed on the blockchain technology. it’s usually beneficial to shop for utility tokens during the ICO sale since the tokens during the ICO are offered at a significantly lower cost than the market rate.