Utility tokens are digital assets designed to provide users with access to a product or service within a specific blockchain ecosystem. Unlike cryptocurrencies like Bitcoin, which primarily serve as a medium of exchange, utility tokens are often used to pay for transaction fees, access features, or participate in a platform's governance. These tokens are typically issued during a Initial Coin Offering (ICO) and can be traded on various exchanges. Their value is often tied to the demand for the services they provide, making them an essential part of many decentralized applications and platforms in the blockchain space.