# Your guide to tokens: Types, design, uses, more

> Forget what you think you know about tokens. We present a new framework that could change the way you view crypto. with @eddylazzarin @skominers @milesjennings @rhhackett Today we’re diving deep into *the* defining concept in crypto: tokens. We’re moving beyond conventional categories — like “govern...

- URL: https://a16zcrypto.com/posts/podcast/token-guide-types-design-uses
- Authors: [Eddy Lazzarin](https://a16zcrypto.com/team/eddy-lazzarin), [Scott Duke Kominers](https://a16zcrypto.com/team/scott-kominers), [Miles Jennings](https://a16zcrypto.com/team/miles-jennings), [Robert Hackett](https://a16zcrypto.com/team/robert-hackett)
- Published: 2025-04-25
- Updated: 2026-05-14
- Focus areas: company building, tech trends
- Tags: token design, tokens, podcast, token business models
- Format: podcast

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Forget what you think you know about tokens. We present a new framework that could change the way you view crypto.

[Embedded media](https://open.spotify.com/embed/episode/2dbqUKaQx0dgeNriXFA8KM/video?utm_source=generator)

**with [@eddylazzarin](https://x.com/eddylazzarin) [@skominers](https://x.com/skominers) [@milesjennings](https://x.com/milesjennings) [@rhhackett](https://x.com/rhhackett)**

Today we’re diving deep into \*the\* defining concept in crypto: tokens.

We’re moving beyond conventional categories — like “governance tokens” or “utility tokens” or even “memecoins” — to present a full taxonomy that details what tokens are, what they aren’t, and what they’re capable of becoming.

Questions we’ll explore include: What is a token? Is it a form of money? A piece of data? Something else? How many types of tokens are there — and who is in control of each? And how should we think about their *actual* economic, legal, and technical characteristics? We’ll also dig into different token designs and their uses; where tokens derive value from; how they jibe with securities laws; and much more.

In this conversation, you’ll hear from several experts on the a16z crypto team who have developed a new [7-part framework for classifying tokens](https://a16z-crypto.easyheadless.com/posts/article/seven-canonical-tokens-defined-newsletter/), which you can find linked in the show notes. Joining us are the coauthors: Chief Technology Officer Eddy Lazzarin, General Counsel and Head of Policy Miles Jennings, and Research Partner Scott Kominers, who is also a Professor at Harvard Business School where he teaches courses on market design and entrepreneurship.

Check out the resources below for a flowchart that we’ll also be referencing throughout this episode and that will be helpful as we wend our way through the token idea maze.

[Embedded media](https://player.simplecast.com/ee57c421-1d46-41aa-b5fe-f545f70b7d73?dark=true)

**Timestamps:**

(0:00) Introduction

(3:28) The Evolution of Token Terminology

(6:19) Classifying Tokens: Economic, Legal, and Technical Dimensions

(8:37) Moving Beyond “Governance Tokens”

(12:05) Inherent Value: The Memecoin Debate

(15:35) Company-Controlled Tokens: Risks and Realities

(31:33) Arcade Tokens: Stability and Utility

(46:00) The Power of Blockchain Interoperability

(49:34) Shared Rewards and Loyalty Programs

(59:19) Asset-Backed Tokens and Their Mechanisms

(1:08:23) Collectible Tokens and Their Uniqueness

(1:14:31) Network Tokens: The Future of Decentralized Marketplaces

(1:31:03) Regulatory Challenges and “Lawyer Tokens”

(1:36:57) Final Thoughts and Future Prospects

**Resources referenced in this episode:**

-   [7 canonical tokens, defined \[flowchart; also see at bottom\]](https://a16z-crypto.easyheadless.com/posts/article/seven-canonical-tokens-defined-newsletter/) by Miles Jennings, Scott Duke Kominers, and Eddy Lazzarin (a16z crypto newsletter, March 2025)
-   [Defining tokens](https://a16z-crypto.easyheadless.com/posts/article/defining-tokens/) by Miles Jennings, Scott Duke Kominers, and Eddy Lazzarin (a16z crypto, March 2025)
-   [Network tokens vs. company-backed tokens](https://a16z-crypto.easyheadless.com/posts/article/network-tokens-vs-company-backed-tokens/) by Miles Jennings, Scott Duke Kominers, and Eddy Lazzarin (a16z crypto, March 2025)
-   [Defining decentralization: It comes down to control](https://a16z-crypto.easyheadless.com/posts/article/defining-decentralization-control/) by Miles Jennings (a16z crypto, February 2025)
-   [*Read Write Own: Building the Next Era of the Internet*](https://readwriteown.com/) by Chris Dixon (Penguin Random House, January 2024)
-   [*The Everything Token: How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create*](https://www.penguinrandomhouse.com/books/723505/the-everything-token-by-steve-kaczynski-and-scott-duke-kominers/) by Steve Kaczynski and Scott Duke Kominers (Penguin Random House, January 2024)

![](https://dwt2zme5yrom6.cloudfront.net/uploads/2025/10/3eb352a0-6641-4275-8900-8e627ac8654b_1837x2048.webp)

*As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.*

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Source: [Your guide to tokens: Types, design, uses, more](https://a16zcrypto.com/posts/podcast/token-guide-types-design-uses) — a16z crypto. Full archive: https://a16zcrypto.com/posts