#AICrashOrComeback A token is a digital unit that represents a digital asset or value within a given blockchain system. It is used in many applications, such as decentralized finance (DeFi), gaming, and the metaverse. A token can be a means of payment, a governance tool within a project, or represent digital assets such as NFTs. Tokens are issued via smart contracts on networks such as Ethereum (ERC-20) or Binance Smart Chain (BEP-20). They differ from independent cryptocurrencies such as Bitcoin, in that they are based on an existing blockchain network. Tokens play an important role in the digital economy, and are used for incentivization, rewards, and raising funds through initial token offerings (ICOs).