There's so many coins on Hive I have no idea what they do.
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There are a huge number of Tribe Tokens on Hive.
The way I find out more about ones that interest me are on leodex.io - if you go to the "Tokens" tab at the top of the screen, it lists them all, and there's a search box to enter the one you want to find out about. Then, the orange "i" box on the right of the row will open up a text box which tells you more about the token, and will usually have a link to the token's external website, Hive community or post that tells you more about it.
The tokens are most often created by communities to act as a reward for posts, and can have functionality assigned to them by smart contract (staking, delegation etc).
However, quite a lot of tokens are effectively "dead". Not every community lasts, not every community is strong enough to inject enough capital into their token, and some die because they are poorly thought out and don't have a decent use case.
But the well thought out tokens with a strong community and a decent use case (even if it's just a tipping token or novelty one) grow to become collectable and have value. The art is in knowing which tokens are likely to have a long lifespan, and which are going to quietly die off !
The barrier to entry to create a new coin is pretty low. Currently, 100 BEE (https://tribaldex.com/tokens/create) or about $15 USD at the time of writing.
There are more BEE fees to give the token abilities such as Staking, Delegation, etc.—but all those fees are also in the same ballpark IIRC.
This means anyone with some spare cash and a dream can spin up a token on H-E.
Now consider that 90%+ of startups fail (https://www.failory.com/blog/startup-failure-rate).
Startups generally cost way more than $15 to spin up. Any token project is a "startup" in some sense. So most of these token projects "fail" to hold any value over time due to being poorly planned or simply abandoned.
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