"The Cappasity utility token will be issued as a digital payment vehicle that facilitates AR/VR/3D content exchange among the ecosystem participants from all over the globe." - Cappasity Website
Basically, this token will be used to buy and sell AR/VR/3D content while also providing a platform that can allow for the easy creation of this type of content in minutes!
I would highly recommend checking out the Cappasity website for more info on their project: https://cappasity.com/
This page allows you to see the extremely high quality 3d images that their tech is capable of: https://cappasity.com/try-it/
Because this project has only recently been listed on coinsmarketcap, i am unable to provide an exact figure of the marketcap. However, based on the total supply (438,686,537), the marketcap is 175,474,614. I would assume that the circulating supply would be significantly smaller than this, however.