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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.

Buildings can become a significant contributor to an energy system’s resilience if they are operated in a coordinated manner to exploit their flexibility in multi-carrier energy networks. However, research and innovation activities are focused on single-carrier optimization (i.e., electricity), aiming to achieve Zero Energy Buildings, and miss the significant flexibility that buildings may offer through multi-energy coupling. In this paper, we propose to use blockchain technology and ERC-1155 tokens to digitize the heat and electrical energy flexibility of buildings, transforming them into active flexibility assets within integrated multi-energy grids, allowing them to trade both heat and electricity within community-level marketplaces. The solution increases the level of interoperability and integration of the buildings with community multi-energy grids and brings advantages from a transactive perspective. It permits digitizing multi-carrier energy using the same token and a single transaction to transfer both types of energy, processing transaction batches between the sender and receiver addresses, and holding both fungible and non-fungible tokens in smart contracts to support energy markets’ financial payments and energy transactions’ settlement. The results show the potential of our solution to support buildings in trading heat and electricity flexibility in the same market session, increasing their interoperability with energy markets while decreasing the transactional overhead and gas consumption.