What will happen to the token utility and token economy if only few institutions adopt the token?
It is unlikely that only few institutions will adopt the token, as many have already expressed interest in the platform. However, even in this instance, the token retains its utility through platform tuition fees, rewards, sponsorships and bursaries, as well as any other paid activities which may be introduced in the future.
Even if only a few educational institutions accept the token, it is already very good. The big way always starts small. Those companies that will start using the token will be pioneers, they will prove the usefulness of the project and this will encourage everyone else to join and participate in the ecosystem.