Like crypto coins, crypto tokens also rely on blockchain technology. Crypto tokens(https://www.cryptominerbros.com/blog...) do not have their own blockchain, unlike crypto coins. Crypto tokens are built atop the existing blockchain. They can be used in many ways and often use smart contracts.

Crypto tokens can be used to represent anything, from art and physical assets such as gold or real estate, to virtual currencies. Initial Coin Offerings (ICO) issue crypto tokens, just like Initial Public Offerings (IPOs) on the stock exchange.

Crypto tokens can be used to fundraise for a particular project, as a way to reward participants or to encourage innovation and user interaction with the blockchain. Crypto tokens are more functional than they are valuable as a storage medium.