I personally do not believe this statistics that 99% of ICOs are scam, because some ICOs fail do not mean they are all scam. I usually tell people that starting an ICO is like starting a new business, it might succeed immediately, it might fail presently but have a great future and it might fail totally beyond redemption. So because a project is failing to perform presently or fail totally do not mean it is a scam. Don't get me wrong here, I never said there are no scam projects but the rate is not as high as alleged. Judging a project based on its first few years is wrong, give it time to realize its potentials.
That's too much! 99% of the ICO scam, that's a big mistake, which is why this topic was created, he should have shown a linked article that 99% of ICOs are scams. But if it is just based on his understanding then that is a misconception. It is true that most ico projects have been the instrument of scammers, but not to the average he gave 99%, but it is still a legitimate ICO especially since the IEOs have been trending relatively lightly, accordingly in my observation.