If you look on your User Dashboard (the sidebar) you will see an Other Currencies option under your sP count. Click on this and you can turn in your New Year tokens to use in the seasonal store (only avaialable a week or so around the New Year). Wizard tokens can be used in the token shop (You will see in the news when new items are available in the token shop, but stock doesn't last long as normally it's profitable to buy with tokens and sell for sP), or Blackheart Hallow (Similar concept to the Smugglers Cove on Neo, if that helps you), or the Vending Machines (you will see them exploring the site map) which can give you "rare" items.

Hope that clears things up a bit? You can also sell the tokens for sP, as they are quite ETS :)

Useful Links: > What to do on Subeta? > Useful general information for newbies > Finding friends (Chit Chat) > SubetaLodge (Offsite item database, pet colours etc.)