Now, that IPO type model (which will also be Etherium I believe) isn't necessarily a scam just because it breaks accepted "rules".
Selling shares of a new tech to the market at whatever price the market will bear, is not scamming. I don't have any evidence that NXT is scamming anyone. I have also sold shares of my companies to the public.
What I don't believe is that these things will become currency. At least my shares have never succeeded on that
I'm not sure the IPO model is even legal (in the US) unless the developers register with the SEC. How is selling shares in Nxt different than selling shares in Satoshi Dice? We know Mr. Voorhees recently got nailed for this: https://bitcointalk.org/index.php?topic=637435.0
Were any initial investors from the U.S.? If not, then this is void anyway, right?
Also, to make a blanket statement that IPOed coins can't be currencies makes no sense to me. If a coin is accepted and used for purchases it is a currency. NXT has integration with major payment processors supposedly in the works and may become one of the few cryptos accepted for non-gambling related purchases in the near future.
I think most people that criticize NXT are making emotional arguments or have not used the client.
It looks like you created a new account specifically to respond to my post questioning the legality of the Nxt IPO. I think I struck a nerve somehow.
If any of the founders sold shares to US residents, then I believe SEC registration would have been required. How is this different than Satoshi Dice? But SEC registration most certainly did not happen (please correct me if I'm wrong), so I believe the SEC would have a case against any of the 47 initial founders should any of them financially profit by selling their stake to US residents.
EDIT: This is interesting. Perhaps the Eric Voorhees / Satoshi Dice precedent just killed the IPO model for launching cryptocurrencies.