There are some reasons for creating a utility token. Let you know one by one,
Access:
You will get access immediately once you create the utility token and also without a token users may not be able to use the particular products.
Payment:
You can convert utility tokens into native tokens of the ecosystem. Thus, services or products are paid with the native tokens. Payments are sparked by offering a discount or making the token the only means of payment. This payment method can work effectively in the crypto market if the product is in high demand.
Voting rights:
Token holders may have voting rights on some token development platforms. If a user buys a utility token. For example, he or she may have access to everything which is being considered in the network.
Earn money:
You can simply earn a passive income in a short time by establishing a utility crypto token. It might be token staking, a revenue share, or something else entirely. There are numerous methods to profit from the creation of a crypto token on an existing blockchain platform. You can also raise funds by using crypto crowdfunding sites like ICO and IEO
Loyalty program:
You can earn your own profit inside the ecosystem by creating a utility token. It could be in the form of discounts or special access.
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