Utility Token

[disconnectme]

I could remember in early 2017 there was nothing like Utility tokens what most project does is to launch their own blockchain but when ICO gained momentum and SEC started showing interest in the space the developer coined the words Utility tokens. Most of these tokens are useless and have no utility function.

[ololajulo]

I still believe in utility token, most utility token has failed because they dont solve relevant problems and the utility channels are not well developed for users. Ethereum was not developed immediately after bitcoin but he had so many utility channels and well developed, this helped in the trade volume and use. exchange tokens also share the same fundamental and had help them to thrive

[Little Mouse]

I still believe in utility token, most utility token has failed because they dont solve relevant problems and the utility channels are not well developed for users. Ethereum was not developed immediately after bitcoin but he had so many utility channels and well developed, this helped in the trade volume and use. exchange tokens also share the same fundamental and had help them to thrive

Almost none of the so called utility tokens have any of usage. If you look at their roadmap, you will find that they never keep their promise and make the roadmap ssuccessful. Even if they do, they fail to reach the potential sector. Then why do they claim to be utility token?

[H1N1]

The most success utility token is binance BNB i think. There are few utility tokens too, you can search on coinmarketcap.
I think the token success will depends on the team and the project, not because they are utility token.

[Krislaw]

Little Mouse, I guess you're missing the aspect that crypto investment is risky (especially new project) and investors should only invest the amount they can afford to lose. Besides, i also believe you didn't notice that 96% of a new project that enters the crypto market/launch their ICO or IEO in the year 2018 used hype to get their investors, an example is karatcoin which the project team is nowhere to be found. But the MB8 case is somehow different because they are live now and if they are accepting half of MB8 to be use by people is because they want to make sure the price of MB8 is appreciating which is what all new genuine project are doing these days.

In this case, judging from Little Mouse's view, MB8 coin raised a lot of funds during months of their fundraising. They promised that they will accept their coin as mode of payment, which was a lie. Price of goods on their website was more expensive than other popular stores. And they accept on few MB8s (1-5%) of price

[aemma]

I can barely remember any because the team tend to deviate from their main aim once they are listed. It is a common practice among project team that in the initial stage of their project, they will be or rather look serious, attending conference etc but once they have achieved their aim of getting the required funds and get listed, those ideas will be no where to be found, developing their use case or product which will drive utility to their token will then be a herculean task. Thus, I can't remember any token with good utility.

[Text]

It seems that some of them do not yet know what the utility token really is. They must first be informed about them and understand how they differ from other tokens. Almost all tokens just hope to be listed on the exchange site and they think that is enough for them to say they are successful. They must show that their product or service is functioning properly as expected by their investors and supporters.

[Anonylz]

We have seen a lot of token/coin with the term utility. Everyone come with a shit idea and say the coin will be utilized in this platform, network etc. But how many of them were ever succeeded? Mb8coin is yet to announce that their products can be bought with mb8coin. Lasr time I see they were discussing about accepting half with mb8coin. How can they say like this?
How many utility token/coin you know have real acceptance in their said/promised network? Please share some of them.

I agree with you, I think the term utility is more on theory than in practice, we have so many project that claim their tokens are utility, yet no single usage has been made with the token anywhere, not in their so-called platform or any other platform for that matter,
And what is even more funny is the money raised during this ieo/ico sale where suppose to aid towards the development of this platforms to enable the usability of this coins/tokens, but for some reason all you will get is excuses and promises of given updates soon, so far only few coins/tokens can boast of being a utility.

[mu_enrico]

If I recall it correctly, the majority of my tokens are for staking to get more meaningless tokens

Some also allow me to get discounts for using its services (e.g., exchanges), and get meaningless airdrop as well.

Conclusion: utility tokens are useless atm and only being used as a currency.

[SolarWindMiningCompany]

I could remember in early 2017 there was nothing like Utility tokens what most project does is to launch their own blockchain but when ICO gained momentum and SEC started showing interest in the space the developer coined the words Utility tokens. Most of these tokens are useless and have no utility function.

I totally agree with you on the submission that most of these project tokens really offer no real utility. They often get away with these paper scams because of the gullibility of investors to understand that utility is a practical thing and not just for whitepaper decoration. Investors really have a lot of conscious learning to do

If I recall it correctly, the majority of my tokens are for staking to get more meaningless tokens

Some also allow me to get discounts for using its services (e.g., exchanges), and get meaningless airdrop as well.

Conclusion: utility tokens are useless atm and only being used as a currency.

I wouldn't say all are useless because I know a project in partnership with Binance and Okex at the moment which serves as a payment portal for commerce outlets in Hong Kong e.g. Pricerite. The utility token can be used in Cela Vi hospitality outlets too. So I believe that some of these few projects still offer practical utility

[Retainly_Collie]

The most success utility token is binance BNB i think. There are few utility tokens too, you can search on coinmarketcap.
I think the token success will depends on the team and the project, not because they are utility token.

You are right mate, Until now I think BNB is a successful utility token in this market. BNB is used in the Binance exchange for a variety of purposes, and this has caused the price of BNB to soar at the moment.

[kceekcee]

Most times, utility tokens are tokens that have reserved to function in a certain platform.
The platform then utilize such tokens as a way of rewarding good contents, reward affiliates amongst other functions as staking.

It is ususally on the etherum blockchain, and some use the stellar platform too.

[Balili]

Believe me not all projects will fulfill their promises and aims, some are just for the sake of promoting the project and that's it, once trading start on exchange the team will feel relax and you won't hear anything good about development again

Some of this projects are set up for short term income but to the public they claim long term that's why they relax in their comfort zones after they have made money from ICO, laughing at investors at asking several questions on their social media accounts

[libert19]

Not trying to bad mouth, just sharing my experience.

Sandblock, I had done bounty of it in 2017, they had promised that sandblock token  (SAT symbol) will be accepted by multiple retailers by q4 of 2019 but guess what not no partnerships have been announced whatsoever. Now, they have even removed the roadmap. What's purpose of roadmap, if you gonna remove it whenever you like?

These people keep sucking investors as long as ICO is running, once it's over. They fuck you. The ICO price was around 20 cents, right now it's not even on single exchange.

It's been going to be 3 years in August this year yet the progress has been less that an ant's penis, oh wait ants do not have penis, fuck there is no progress either.

/rant over

[CryptopreneurBrainboss]

We have seen a lot of token/coin with the term utility. Everyone come with a shit idea and say the coin will be utilized in this platform, network etc. But how many of them were ever succeeded?

There are quite some number of them that have succeeded in achieving that goal, although the ratio to failed ones are no where to write him about. The like of exchanges native tokens and that of gambling platforms are some perfect exchange although most of this tokens become worthless quite easily as their utility are restricted to their parent platform, that's if it should go down they (the native tokens) goes down with the platform.

The problem is that scammers always leverage on tending ideas to defraud gullible victims. Since the topic of discussion lately was about more utility for cryptocurrency, they seized the opportunity to decieve Investors into believing they have something unique to offer but all they're after is the potential money to be stolen. The legit project that focus their project on offering utility to the community are doing quite well, use BNB as a case study.

[Lexurdania]

There are many projects that fail to produce products that can make money and this is what makes the token utility not successful on many projects. New projects usually duplicate projects that are already successful and this makes it difficult for new projects in development and marketing because they certainly require large funds

[rdewilde]

We have seen a lot of token/coin with the term utility. Everyone come with a shit idea and say the coin will be utilized in this platform, network etc. But how many of them were ever succeeded? Mb8coin is yet to announce that their products can be bought with mb8coin. Lasr time I see they were discussing about accepting half with mb8coin. How can they say like this?
How many utility token/coin you know have real acceptance in their said/promised network? Please share some of them.

Utility? Does that still work? Maybe it might have worked before but nowadays, most project's team, their aim is to make money, some can manage to list to justify their investors and whichever way, once they are listed if at all they will, it ends there. Many projects today don't care about that word and it is alarming; we shout about mass adoption but the projects which are to set it in motion are busy filling their pockets, am not stating mass adoption won't be actualised but first there is needed for the utility of these tokens to be upheld.
Only a few are really trying to make sure their token have utility but more needs to join.

[Bonwin]

We have seen a lot of token/coin with the term utility. Everyone come with a shit idea and say the coin will be utilized in this platform, network etc. But how many of them were ever succeeded? Mb8coin is yet to announce that their products can be bought with mb8coin. Lasr time I see they were discussing about accepting half with mb8coin. How can they say like this?
How many utility token/coin you know have real acceptance in their said/promised network? Please share some of them.

I do not know if they will ever be able to achieve that, particularly projects with tech products. Sone that already has their platform running have included the option of using other cryptocurrencies, such as ETH and BTC because they are already established and accepted in so many places.
The set of utility tokens that I believe are very much in use are exchnage tokens. If you look at an exchnage such as Binance, CZ has serious put it into use. If there will be any IEO, that is the token that will be used. So many other exchanges have also done the same, such as Huobi. This has helped to add more value to their tokens.

[mu_enrico]

I wouldn't say all are useless because I know a project in partnership with Binance and Okex at the moment which serves as a payment portal for commerce outlets in Hong Kong e.g. Pricerite. The utility token can be used in Cela Vi hospitality outlets too. So I believe that some of these few projects still offer practical utility

Yea, only a small fraction of them have some (limited) utility. Like I said, the majority is for staking purposes to get discounts and airdrops. ETH and EOS, for example, are also a utility token to use its network. But in reality, most users haven't deployed any smart contracts, but only use it as a currency. If it's for e-commerce, they can directly use existing cryptos, and no need to create another token.

In other words, I haven't seen any utility tokens that I desperately need to "consume."

[posi]

We have seen a lot of token/coin with the term utility. Everyone come with a shit idea and say the coin will be utilized in this platform, network etc. But how many of them were ever succeeded?

There are quite some number of them that have succeeded in achieving that goal, although the ratio to failed ones are no where to write him about.

Here you'll find the list of shit/dead coin, scam etc.

The like of exchanges native tokens and that of gambling platforms are some perfect exchange although most of this tokens become worthless quite easily as their utility are restricted to their parent platform, that's if it should go down they (the native tokens) goes down with the platform.

I think the problem of utility token/coin are from the team because their project wont survive if they only base it on utility while they ignore the parent platform and this was what Binance CEO understand when he make BNB for exchange activities payment and acceptable by stores owner in some part of the Asia.

The problem is that scammers always leverage on tending ideas to defraud gullible victims. Since the topic of discussion lately was about more utility for cryptocurrency, they seized the opportunity to decieve Investors into believing they have something unique to offer but all they're after is the potential money to be stolen. The legit project that focus their project on offering utility to the community are doing quite well, use BNB as a case study.

These have been the strategy used by crypto scammer from the beginning and it the duty of crypto investors and enthusiasts to be alert.