Found this from an Australian sale 11 years ago ...
https://www.noble.com.au/mobile/lot?id=206492
which mentions an advertising token 'Muto, uniface in copper (30mm)'
plus it shows another token (below) with MutoScope on it. Though it only
shows that token and not the others in that lot.
Token: 'Mutoscope, in aluminium (31mm)'
See also:
https://en.wikipedia.org/wiki/Mutoscope
MutoScope were sold to UK and elsewhere so maybe they had their own tokens, over time.
Of course all that may be a coincidence, and MUTO refers to something else. Like as the sale link is from Australia (which is also where you are from), so maybe M is Melbourne. Or not.