I'm not sure I understand why so many believe ICOs will be less popular in 2018. Yes, 2017 saw a lot of ICOs, but many have been successful and many have failed - that is the nature of start-ups (which is essentially what ICOs are). I think what people here are forgetting is that ICOs are still businesses - they have founders, employees, a product or service (either real or conceptual), income, expenses etc. The only difference between an ICO-funded start-up and a venture capital-backed startup is the source of the funding. There are blockchain-based startups that are not funded through ICOs but rather through angel investors and the sort.

The only way for ICOs to die - besides a regulatory crackdown - would be for investors to stop buying into them. And given the potential returns of investing in these ICOs, I think it is very unlikely all investors will cease participating.