Utility tokens are akin to gift cards that trade in secondary markets and allow their owner to use/access the platform or services of the issuer.
How great is that? Well, it is not.
to register a tokens offering as a securities offering. These tokens serve no purpose aside of avoiding regulations and enriching the issuer at a faster pace (before delivering any value).
Have a look at this:
Most utility tokens should disappear.
There are some exceptions.