# Crypto Tokens

### <mark style="color:purple;">What Are Crypto Tokens?</mark> <a href="#mntl-sc-block_1-0" id="mntl-sc-block_1-0"></a>

The term crypto token refers to a special virtual currency token or how [cryptocurrencies](https://www.investopedia.com/terms/c/cryptocurrency.asp) are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own [blockchains](https://www.investopedia.com/terms/b/blockchain.asp). Crypto tokens are often used to fundraise for crowd sales, but they can also serve as a substitute for other things. These tokens are usually created, distributed, sold, and circulated through the standard [initial coin offering (ICO)](https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp) process, which involves a crowdfunding exercise to fund project development.