Protocol Tokens – Definition
According to Delfin, Protocol Tokens "represent a claim to a capital, transformable/consumable, or a store of value asset. However, since they can only capture a specific market segment this effectively limits their use as store of value." Instead of key metrics, he assigns each Protocol Token a single NAICS classification that reflects the specific industry of its main economic activity.
Protocol Tokens are the second of the two main categories that structure the four types of crypto assets.
Protocol Tokens in plain English
Put simply, Protocol Tokens are a bit like vouchers. They allow you to get something in return for them, but only something specific.
Protocol Token taxonomy
Brave New Coin divides Protocol Tokens into
as illustrated in the following: