Do you actually need much starting capital for those? I was under the impression that anyone could in theory create a new cryptocurrency (or -product) from their proverbial basement and start selling it to gain (real money) capital.
I mean Bitfinex did it with Tether, in two directions as well; they pre-minted loads of this currency, then sold it for USD while at the same time allowing people (and themselves) to buy BTC with Tether, artifically boosting the value of BTC and the BTC that they themselves held, which helped them pay off the debts from their various breaches.
> Do you actually need much starting capital for those?
More about the rubes who see some new NFT advertised, and think, "Oh, that's going to go to the Moon!" and plunk down some actual money for it. I guess I'm surprised we haven't run out of rubes yet. Yes, I know human foolishness is a renewable resource, but at some point I'd think most of the easily accessible rubes have been used up (i.e. had their wallets drained), and it would be a while before a new crop of rubes is available in sufficient quantity for exploitation.
I mean Bitfinex did it with Tether, in two directions as well; they pre-minted loads of this currency, then sold it for USD while at the same time allowing people (and themselves) to buy BTC with Tether, artifically boosting the value of BTC and the BTC that they themselves held, which helped them pay off the debts from their various breaches.