Initial coin offering. Like selling shares to raise capital but instead of shares, you get cryptocurrency tokens. Without regulation, it has a much lower barrier to entry, but some barriers are safety barriers.

There are people getting into crypto currencies purely because they hear about others making money doing so. This means there are also predators taking advantage of the lack of barriers. A crypto might not be a scam but when scams are easier to make than real things, the scams will be more numerous.