that in the past ICO projects performed very well if they used ERC20 tokens or projects built on established platforms. because it has the potential to grow well and reduce risk when compared to creating new technology. but now on the contrary I don't see ICO functioning properly even though it's built on an existing platform like ERC20.
I will not blame the platform because the platform has been built in such a way, but I will blame the developer, Why? because most developers have misused this for crypto schemes to get rich and most project failures are based on the background of developers who do not have extensive knowledge and deliberately tarnish the ICO project's bad image.
Bad developers whose purpose is only to deceive has hurt the cryptocurrency market by undermining the confidence of its investors. If this continues, investors will think that the cryptocurrency market is a place of fraud and without any action. Hopefully the regulations can be issued soon so that developers who have short-term goals can be punished