Some project are still working and developing but in the meantime many projects are really dead.Do you remember,last year Vitalik Buterin said that 90 % of icos are scam ? So we must admit that he was absolutely right.But still I continue searching for new promising projects for investing.
Vitalk of course authoritative personality, but sometimes he too is wrong. A few days ago I saw a table of projects, there are the amounts of funds raised and to my great surprise they are still sitting in the ethereum. You know the current price of Ethereum. I'm sure it's only a matter of time. As soon as the market turns around, most of the projects will recover and start working. They can't even spend on marketing right now.
Yes, many projects lost about 10 times in their funds, if they are still sitting in the eth. So, it is very difficult for them to continue the development, because they haven't anought funds for that purpose right now. Maybe, if situation on the market will change, they start their working