Wrapped crypto tokens such as WBTT are cryptocurrencies pegged to the value of a different crypto.
When a token pegs its value to the value of a different token, it fixes the exchange at a set, predetermined rate. For WBTT, it is pegged 1:1 to BTTOLD.
To create a wrapped token, the original token is ‘wrapped’ into a digital vault, and a new token is created. Wrapping a token allows you to interact with other blockchains.