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The above token is needed by Technorati to verify I am the owner of this blog.
Here is what I did to claim / register my blog with Technorati.

Went to http://technorati.com to join.
Filled in all the required details and a valid email account was required to get myself an account.
After clicking a link in the email sent to me by technorati, my account was ready.

Clicked on my username on the top-right corner to bring myself to the account page.
In my account profile, under “Start a blog claim”, I entered my web address and click “Claim”.
Filled in another page of details about my blog and after that, checked your email for a token.

With this token, I created a blog like this one. Make sure the token is in the post. I left it at the top. Nice and high. They shouldn’t miss it.

I then went back to my Technorati account and started the verification process. Clicked on “Verify Claim Token” as showned in the pic below.

This screen at the end showed that I am now waiting for my site to be evaluated.

Hope this post is useful for bloggers out there. Cheers.