Crypto tokens are special kind of virtual currency tokens that reside on their own blockchains and represent an asset or utility. Tokens can represent any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies. For example, one can have a crypto token that represents customer loyalty points. Creating tokens is much easier as you do not have to modify the codes from a particular protocol or create a blockchain from scratch. Tokens are typically meant for some specific use within a closed economic environment, like for example a social media network. They are not meant to be mined like a cryptocurrency.