Probably an easy way to understand utility NFTs is with a business case from the entertainment industry. 

If you are holding a concert with 2,000 VIP spaces available, you could issue VIP 2,000 paper tickets. Each paper ticket will be unique, or non-fungible, in the sense that it will have its own ticket number. But each unique paper ticket confers the same right, privilege, or utility. That utility is, in this case, entry to the VIP area of the concert.

Instead of issuing 2,000 VIP paper tickets, the concert organizer could issue 2,000 VIP NFTs. Each of the 2,000 VIP NFTs would of course be unique and non-fungible, but just like the tickets, each one would grant its owner the same privilege or utility: entrance to the concert plus EXTRA SERVICES included. It works for in-person, digital or in-game events and could be traded 24/7 – even seconds before the event – each trade will add extra royalties to the artist wallet and holds super rare exclusivities for the ticket owner.

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