- Utility coins allow access to the products or services rendered by a company.
- Utility tokens are not for investment purposes.
- EWO, TMC, BAT (LON:BATS), and GLM are some utility coins to watch out for in 2022.
Utility tokens are digital assets or app coins that can perform a specific function or finance a network. They allow access to the products or services rendered by a company. For instance, tokens can grant token holders permission to vote or use specific features in a platform.
Utility tokens are not for investment purposes; therefore, they pass all regulatory laws that differentiate security tokens from utility tokens. Although specific utility tokens, such as BNB, offer security tokens, pure utility tokens do not trade at a premium to the relevant products or services in fiat currency.
Keeping that in mind, in this article, we will talk about Utility tokens with real-world usage to watch out for in 2022.
1. EWO
EWO token is the utility token of EWO place. EWO place is a platform created to demonetize real estate and reconnect people with a place where they could live without mortgages and crazy rent fees. EWO place’s vision is to bring communities back to life by cancelling rents.
They buy houses in out-of-way communities worldwide and offer interested people who want to stay there at little to no rent. You only pay for the basics such as upkeep and utilities to experience life like a local.
However, what distinguishes the platform from other real estate platforms is that it allows people to stay and stake into real estate.. Members who don’t fancy staying in their properties can earn rewards from other people using EWO place properties. These rewards are distributed in the form of EWO tokens to holders in their app.
The tokens can be used to pay for booking to stay in any EWO place, subscribe to services including third parties. EWO place ensures the value of their token by putting a daily buy limit. EWO tokens also eliminate the need to connect bank accounts or cards to use EWO place services worldwide. EWO place wants to transform the real estate world, and it may be possible with such a radical approach.
2. TMC
Timicoin was created to provide a blockchain solution for securing healthcare data in a health information exchange (HIE). It is a utility token of the TimiHealth platform. This system will provide consistent and real-time delivery of patient records. After patient authorization, it can only be accessed via a smart contract.
TMC is the utility token used in handling all patient, provider, customer service, and data requests.
3. BASIC ATTENTION TOKEN (BAT)
Basic Attention Token (BAT) aims to use blockchain technology to improve digital advertising security, fairness, and efficiency. The aim is to create a blockchain platform that would assist content creators of all kinds in discovering more equitable ways to earn money. BAT is first and primarily utilized as a form of payment for content creators and publishers. It’s made to be shared across users, advertisers, and publishers.
It’s based on a unique concept crucial to advertising organizations in the digital age: user attention. BAT’s creators want to change the way advertising is done in the digital age. Current trends, they believe, are disadvantageous to users, publishers, and advertisers alike.
Users are bombarded with adverts and trackers, and malware that is becoming more aggressive and powerful. Users are rewarded with less intrusive advertising on the pages that house this content.
BAT’s creators think that measuring how consumers engage with digital advertising content and preserving that data in a distributed ledger can improve the digital advertising experience for advertisers, publishers, and users. Users will see fewer advertisements and material that is more relevant to them. Publishers will develop new revenue streams.
4. GLM
GLM is Golem Network native currency. Golem network is a flexible, open-source platform enabling democratized digital resource access. Golem is poised to become a crucial building piece for future Internet service providers and software development by enabling decentralized microservices and asynchronous job execution.
This platform is the world’s first totally decentralized supercomputer, paving the way for a global market in computing power. It completely transforms the way computing activities are structured and completed when combined with customizable tools to assist developers in securely distributing and monetizing their software.
Complex applications such as CGI rendering, scientific calculation, and machine learning become more accessible to everyone as the cost of computations falls dramatically. Now, thanks to Golem Network utility token (GLM), users can access the Golem Network and rent idle digital resources such as spare computer power in peer-to-peer transactions without any hassle.