In my opinion, the number of ICOs that failed was because they were less precise in making strategies. This strategy starts from planning, implementation and sustainability. Usually the ICO only makes a strategy on planning and implementation. And even so they make it not in detail and mature. The continuity stage is usually not made by ICO in detail so that the ICO coin cannot last long in the market. Therefore, many new coins are plunged into the market every day but also cannot last long in the market. Besides this ICO failure can be caused by fraudulent ICO or fake ICO.