RE: What is a wrapped token?

What is a wrapped token?
Binance Article written on Jan 19, 2021 and Updated on Nov 16, 2022.

A wrapped token is a cryptocurrency token pegged to the value of another crypto. It’s called a wrapped token because the original asset is put in a wrapper, a kind of digital vault that allows the wrapped version to be created on another blockchain.
What’s the point? Well, different blockchains offer different functionality. And they can’t talk to each other. The Bitcoin blockchain doesn’t know what’s happening on the Ethereum blockchain. However, with wrapped tokens, there can be more bridges between different blockchains.
So what this article is saying in the TLDR is that wrapped tokens are bridges between blockchains. This is a simple clear idea, but it only scratches the surface. The true reason for wrapped tokens is not to be a bridge between blockchains. The real reason for wrapped tokens is to move value between blockchains, and invest that value in better opportunities then those available on the blockchain where that value currently lies.