Blockchain Tokens Explained: What They Are, How They Work, and What to Watch For

When you hear blockchain tokens, digital assets built on top of existing blockchains like Ethereum or BSC, used for everything from voting to in-game purchases. Also known as crypto tokens, they’re not the same as coins like Bitcoin—those run on their own networks. Tokens live on other chains and do specific jobs, like giving you access to a game, letting you earn rewards, or even letting artists get paid every time their art sells. That’s why you see tokens like WANA, a token tied to a farming NFT game that crashed after hype died, or ZED, the currency used in blockchain horse racing games. These aren’t just digital money—they’re keys to digital experiences.

Not all blockchain tokens are created equal. Some, like BLOCK, a utility token for a Web3 sports betting platform, have clear use cases: you spend them to get cashback or unlock exclusive content. Others, like RNBW, a token falsely marketed as part of a CoinMarketCap airdrop, have zero value because the project never delivered. The difference? Real tokens solve problems. Fake ones promise riches. And if a token’s only purpose is to be traded—with no app, no users, no team—it’s probably a ghost.

Blockchain tokens also show up in places you might not expect. They’re the engine behind NFT royalties, letting artists earn every time their digital art changes hands. They power staking rewards on Ethereum and other proof-of-stake chains. And they’re the reason you can play a racing game or adopt a virtual kitten and actually own something inside it. But here’s the catch: most of these tokens fail. Over 90% of NFT gaming tokens go to zero. Airdrops that sound too good to be true? Almost always are. The ones that survive? They’re tied to real products, real users, and real demand.

That’s why this collection exists. You’ll find deep dives into tokens that actually work, like the ones powering DeFi platforms and blockchain games. You’ll also see how scams hide behind fake airdrops and empty promises. No fluff. No hype. Just what’s real, what’s dead, and what you should avoid. Whether you’re checking out a new token or wondering why your favorite game’s currency vanished, you’ll find answers here—no guesswork needed.