Token rights refer to the broad spectrum of how a token is used to ease a transfer of value within cryptoeconomics. Application tokens are generally specific to an application where as protocol tokens (i.e. Bitcoin, Ethereum etc.) run on the broader network the application is running on.
Depending on the business model, token rights can take on any number of shapes. Payment tokens for examples, may be the only way to make payments on the network where as access tokens give the ability simply to use the network. Other models of token rights include governance, where holders influence development road maps and contribution rights, where tokens are needed to play a role on the platform. Tokens play a key role in developing the type of consensus protocol best suited for the business model.