The years 2017 and 2018 has seen a massive influx of blockchain projects into the space, including those that actually do not need the blockchain technology to function. This also saw a lot of scam projects and exit scams taking over the space, with resultant effects of huge losses stemming from investments in 'projects' the owners had no plans whatsoever to further it's course. A friend lost over 23 ETH at the price of $700+ to scam ICOs and this has badly effected his finances (invest what you're willing to lose, he knows that..but a loss is a loss regardless).

This has affected the perception of a lot of investors and how they see new crypto projects. Many have stayed away (like myself) from investments in ICOs until further notice, pending when there's some stability with investments in ICOs. I can not afford to lose money any further, so I'm not putting money in ICOs at the moment. I'm rather investing established coins