Token standards define rules for creating and managing tokens which will be developed by Crypto Token Development Company on blockchain platforms. Common ones include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens (NFTs), and ERC-1155 for both types on Ethereum. BEP-20 serves a similar purpose on the Binance Smart Chain, while TRC-20 is used on the TRON network. These standards ensure tokens are interoperable and functional within their respective ecosystems.