Longlisted for the FT Schroders Business Book of the Year Award 2023 - A BEST BOOK OF THE YEAR: GQ, Los Angeles Times, WiredWherever you look, money is being re- placed by tokens. Digital platforms are issuing new kinds of money-like things: phone credit, shares, gift vouchers, game tokens, customer data—the list goes on. But what does it mean when online platforms become the new banks? What new types of control and discrimination emerge when money is tied to specific apps or actions, politics or identities?Tokens opens up this new and expanding world. Exploring the history of extra- monetary economies, Rachel O’Dwyer shows that private and grassroots tokens have always haunted the real economy. But as the large tech platforms issue new mone