Tokens are often created through a process called a Initial Coin Offering (ICO) or Initial Exchange Offering (IEO), where investors can buy tokens in exchange for other cryptocurrencies or fiat currencies.
Tokens can be traded on cryptocurrency exchanges, allowing investors to buy and sell them as they would with stocks or other financial assets.
Tokens can also be used as a form of payment, with some merchants accepting them as a means of exchange.
Some tokens are used to power decentralized applications (dApps) on a blockchain network, with users required to hold and use them to access certain features or services.
Tokens can have different levels of decentralization, with some being fully decentralized and others having a more centralized governance structure.