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Token identity theory holds that individual mental events are identical to individual physical events, even if mental types are not identical to physical types. This allows multiple realizability: the same mental type could be realized by different physical types in different creatures or systems.
To understand token identity theory, you first need the type/token distinction from your prerequisite. A type is a general kind or pattern; a token is a specific instance of that kind. The word "cat" appears three times in this sentence: that's three *tokens* of one *type*. Applied to mental states: pain as a *type* is the general category; this particular pain I'm feeling right now is a *token* — a specific, dated mental event.
Type identity theory — your prerequisite — made the bold claim that mental types are identical to physical types: pain (as a kind) = C-fiber firing (as a kind). Every pain, anywhere, in any creature, would have to be realized by C-fiber firing. You know from multiple realizability why this fails: an octopus feels pain with completely different neural architecture; a silicon robot might experience pain with no neurons at all. The same mental type appears in wildly different physical substrates, so type-type identity is too rigid.
Token identity theory retreats to a more defensible position: each individual mental event is identical to some individual physical event, but the physical realizer can vary. *My* pain at 3pm on Tuesday is identical to *some specific neural event* in my brain — perhaps this particular C-fiber activation, or this pattern of distributed cortical activity. Your pain at a different time is identical to a different neural event. An octopus's pain is identical to yet another physical event, using entirely different biological hardware. There is no single physical type that all pains share; but every pain *token* is a physical event.
This move preserves physicalism — nothing mental happens without something physical happening — while respecting multiple realizability. It's a form of non-reductive physicalism: mental types don't reduce to physical types (no psychophysical type-type laws), but every mental particular is a physical particular. The mental and physical descriptions pick out the same events under different concepts. Token identity naturally underpins functionalism: what makes something a pain isn't its physical constitution but its functional role — what causes it, what it causes — and that role can be physically realized in multiple ways. This sets up the broader question of substrate independence: if token identity holds, could a sufficiently organized computer token the same mental events as a brain?
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