The ERC-20 tokens are built on the Ethereum blockchain. Just like any prominent cryptocurrency, ERC-20 tokens can be used to purchase or trade for any fiat or cryptocurrency.

ERC-20 tokens often have fixed supplies that are stored on their dedicated Ethereum wallets. With the advent of initial coin offerings (ICOs), several ERC-20 tokens were created. These tokens often form the building block of DApps.

ERC-20 tokens are fungible, ensuring they are identical to one another and can be easily exchanged for any similar token. ERC-20 tokens are used as in-game assets, and their sheer level of versatility makes them widely popular in the first place.