Actually they have some many reason on why the ICO failed. Some problem of that was some investor are leaving in the project, And some of are the hardcap are not reach so they going to stop some of there project they introduced. But they have some scammers also the threat of project
and if the investor leaving the project then it means, the project cannot continue to grow and to develop another plan. and this will give an impact on the other people inside the projects because they think that soon, the project will stop and they cannot make any profit from the projects. I see that many ICO cannot reach the hard cap but they still survive and I don't think that this project will fail because if they can convince new investor then I am sure that the project will continue and will reach the success in the future.