A Token Generation Event is typically conducted by a blockchain project to raise funds for development and to distribute tokens to users. During a TGE, tokens are created and distributed, often in exchange for established cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). This event can take the form of a public sale, private sale, or pre-sale, and is designed to counteract supply scarcity by providing access to potential investors early on. TGEs often serve as an initial funding round for blockchain projects and may also include mechanisms to increase demand and retain value.