Why are there so many tokens?

[SantaGold]

I will want to liken the creation of tokens to the creation of websites, different websites are set up daily to serve several purposes and the value of a new website cannot in any way devalue preexisting ones unless they are in direct competition to dominate a particular niche. As new tokens are created and added to the cryptocurrency ecosystem their defining use cases & future development will determine their value just like it is for websites today.

[Silent26]

I just don't understand why people are creating a lot of tokens even if there are a lot of it already? Will these not affect the value of Altcoins?

I think it doesn't affect altcoins. Because nowadays there are a lot of tokens out there. Most of them are used for bounty campaigns and for airdrops , it is to promote their tokens. But i knew that not all of these tokens are successful. More people lose their money because of buying these tokens and they didn't expect that its price will suddenly goes down in one blow.