Utility Token Overview
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Questions and Answers

What is the primary purpose of utility tokens?

  • To be used as a form of currency
  • To provide access to products and services (correct)
  • To be used in a game
  • To provide discounts and rewards
  • What is an example of a utility token?

  • Bitcoin
  • Ethereum
  • Axie Infinity’s Small Love Potion (correct)
  • Litecoin
  • What is one use of a utility token?

  • To purchase goods and services
  • To gain discounts and rewards
  • To provide access to services (correct)
  • To mine cryptocurrency
  • What is NOT a use of a utility token?

    <p>To be used as a form of currency</p> Signup and view all the answers

    What is the main benefit of owning a utility token?

    <p>To access services</p> Signup and view all the answers

    What type of project is a utility token typically tied to?

    <p>A blockchain project</p> Signup and view all the answers

    What does a utility token provide to holders?

    <p>Access to products and services</p> Signup and view all the answers

    What is NOT an example of a utility token?

    <p>Ripple</p> Signup and view all the answers

    How do utility tokens work?

    <p>They are tied to a specific blockchain project or ecosystem</p> Signup and view all the answers

    What is NOT a use of a utility token?

    <p>To be used as a form of currency</p> Signup and view all the answers

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