Before it was TRUMP coin, followed by Melania coin, and others followed suit - celebrities from entertainment and many more. But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?
Most of the crypto project developers are more focus to generate money for themselves than potential exploit leaving investors at the highest risk level of investment. You'll see most of the over hyped coins dumped and exchanges are delisting most of them all useless coins from their exchange trade markets due to their potential performances unworthy and unreliable.
The alt market has become more of business for developers and teams with no vision for economy sustainabilities nor to curb panic on public transaction use cases like bitcoin does.
You'd hear a celebrity or Politician launched a coin and after shilling behind the identity of the influencer on the hyping market, coins may pump and dump in the sudden while developers scampers with a coverup that they ain't aware with the project after public begin to troll on their grievances.
This discussion came into light because of the recent coin that is going viral, created by the popular American rapper and entrepreneur, Kanye West, called $YZY. I thought it was a joke until I went to research it and saw that it was designed to serve as the official currency for the Yeezy brand, primarily for payments on the Yeezy website.
Since it was listed on tier-1 exchanges like Bitget, appeared on Binance website news as a potential, and Krakent rumors. Do you think because of the purpose of creating the coin, it can become something big in the nearest future?
If you keep to hold any of those native coins, you'll end up holding nothing because it'll dump on your custody or neither useless outside the community or website. And downtrends trajectory becomes it custom.