A Token Sale is a fundraising event where a company or project sells digital tokens to investors, usually in exchange for cryptocurrencies like Bitcoin or Ethereum. These tokens often represent a stake in the project or provide access to its services. Token sales are commonly used in the blockchain and cryptocurrency space to raise capital for new ventures. During a token sale, participants can purchase tokens at a predetermined price, often during a limited time period. The funds raised are typically used for development, marketing, and operational costs. Token sales can vary in structure, including Initial Coin Offerings (ICOs) and Initial Exchange Offerings (IEOs).