> For the complete documentation index, see [llms.txt](https://cryptoarena.gitbook.io/nft-arena-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://cryptoarena.gitbook.io/nft-arena-docs/economy/metal-tokens.md).

# METAL Tokens

## **NFT Arena related use cases**

1. Buy/Sell NFT cards 
2. Used for wagers in tournaments games
3. Yield farming
4. Node rights acquisition
5. Monetary policy governance

See the Metalayer Documentation for more info about METAL tokens.

## **What is a Utility Token?**‌

​Utility Tokens are defined as digital units of cryptocurrency that provide exclusive access to a product or service. A couple examples would be like discount voucher, the fake currencies used in many videogames, or a ticket providing access to a sporting event.‌

Utility tokens are not "real money" or investments granting shareholder rights, and draw their value from demand for the services they are associated with rather than the book valuation of the company issuing them. Find out more about difference between Security & Utility Tokens [**here**](https://hackernoon.com/security-tokens-vs-utility-tokens-how-different-are-they-22d6be8901c2)**​**‌

#### Buying Utility Tokens for the purposes of speculative investing is always to be considered very high risk.  <a href="#buying-utility-tokens-for-the-purposes-of-speculative-investing-is-always-to-be-considered-very-high" id="buying-utility-tokens-for-the-purposes-of-speculative-investing-is-always-to-be-considered-very-high"></a>