Utility Tokens allow users to redeem services or benefits if they purchase and hold a certain amount. They are issued by crypto projects, platforms, exchanges or companies, with the aim of financing their own development. Utility tokens are not to be confused with security tokens. Utility tokens, in fact, guarantee the buyer a tangible use. Security tokens, on the other hand, represent a share in the company issuing them.
An example of a utility token is the Young Platform token. Owning a certain number of YNGs gives the exchange community access to Clubs. These represent a higher level of access to the Young Platform ecosystem and each member is entitled to fee discounts, better airdrop rewards, Staking rewards and other privileges over time.