There are thousands of projects, coins and tokens floating around in the crypto space, and tens of thousands no longer floating around. In crypto, people generally crowd to either the most promising small cap coins in the hope of speculating to make a quick buck, or crowd to large coins with strong communities hoping to hold on to a project that will survive the crypto cycles. 

Reddit is a gold mine for microcap coins, dogecoin has a strong userbase there, moons were born there and since then the number of community based microcap coins such as bricks, donuts and bitcones amongst many others.

Each community token is solely fueled by the community creating utility for it, this creates demand, incentivises ownership and breeds a healthy economy. This generates a self fulfilling prophecy; demand for the token, which grows the community, which leads to more people creating utility, this creates demand, rinse and repeat.

So lets focus on bitcones for this, what utility is there?

Buying and trading reddit avatars
Bitcones were initially used to buy and sell avatars, notably from the cone collection such as this.

Thanks to the initial avatar trading we now have Firstmate.

Tipping
Tipping is a massive part of community tokens on reddit. It encourages good content, rewards helpful individuals and gives the community a way to welcome new members. This is a valuable use of tokens as it lowers any barriers to entry and makes the token accessible to all.

Encouraging good content
Tokens are often used as rewards on reddit for upvotes, upvotes are given to posts that contain good, informative or entertaining content. What better way to grow a token and encourage quality content than to reward to community that makes it all happen? Rewarding reddit posts based on upvotes also means the community is in charge of rewarding good content, meaning quality is community driven.

Community innovation
Community based tokens being so accessible enables the community to innovate and have fun with the token. In bitcones this has been in the form of raffles, lotteries, games and more. Individuals can create games and other interactive activities that utilise cones as either a reward or a fee to participate (eg in raffles), which again creates more utility.

Future utility...?

There is plenty of untapped potential. Doge was used for charity in the past. Moons were used to rent the r/cc banner. Bitcones could follow either of these paths and more. Being on the polygon network means it gets all the benefits of existing on that network, significantly DApps.

Ultimately, the potential for microcap coins is limitless. The basic utility is universal, every coin has potential, but community driven innovation is what sets coins aside from each other and paves the way for long term success.

If you want to learn more about bitcones I encourage you to check out the subreddit as well as bitcones dedicates site https://bitcone.lol/.

If you want to own your own conehead avatar I would suggest you take a look at Firstmate.