Resumen
Blockchain and tokens are relatively new research areas insufficiently explored from both technical and economic perspectives. Even though tokens provide benefits such as easier market access, increased liquidity, lower transaction costs, and automated transactional process, their valuation and price determination are still challenging due to factors such as a lack of intrinsic value, volatility, and regulation making trading risky. In this paper, we address this knowledge gap by reviewing the existing literature on token creation and valuation to identify and document the factors affecting their valuation, investment, and founding, as well as the most promising domains of applicability. The study follows the PRISMA methodology and uses the Web of Science database, defining clear research questions and objective inclusion criteria for the articles. We discuss token technical development, including creating, issuing, and managing tokens on an Ethereum blockchain using smart contracts. The study revealed several key factors that significantly impact the field of tokenomics: demand and supply, social incentives, market conditions, macroeconomics, collective behavior, speculation, and inclusion in index funds. The most relevant use cases of blockchain and tokens are related to the digitization of virtual and physical assets, accountability, and traceability usual in smart grids or supply chains management, social governance, and art and gamification including metaverse.