A token is a digital representation of an asset or utility.
The blockchain is the best solution to represent values that can be exchanged.
As a consequence, multiple token standards exist on the Tezos blockchain:
|FA1.2||FA1.2||TZIP-7||A very simple ledger that represents one fungible token.|
|FA2||FA2||TZIP-12 and TZIP-16||A standard that can represent multiple fungible tokens or NFTs.|