ICOs are dead. IEOs are the new trend. I doubt there is any project doing ICO currently.
IEOs solves the most important need of participants, that is immediate liquidity. So all are behind it.
IEO is the same as ICO only with extra steps ( As in Rick and Morty

)
There are good amount of projects doing ICOs still, just check rating webpages as icobench and icomarks.
Regarding the investment, I do not invest. I think it is just too risky . If i spot a good project, instead i chose to do bounty for them. This way I invest my time not money. Others might think differently.