Coins are based on blockchains, which means that each blockchain records all transactions involving its own cryptocurrency. Tokens exist in a digital record on the blockchain. But tokens aren’t money, as money is typically understood. Instead, they represent things. Often a digital token represents physical or intellectual property, such as a work of art, a piece of music or a book. The best-known example of this is the non-fungible token or NFT. Coins and tokens both represent a store of value, much like fiat currency, such as dollars, euros, yen, etc. But there’s a crucial difference: digital coins are a form of money, while digital tokens represent something that can be assigned a price.