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.
The past developers tarnished the ico because they scammed many investors. They only focusing to earn money and that's why investors are always experiencing losses. There are now only few icos that becoming successful.
not just the past developers even the present ones are still in the scamming game, this is a free market where anyone can come to exploit people freely and work away, the biggest blame goes to the developers follow by the investors, most developers don't have interest in the project they create, to them it is all about the money, but some investors will trust this devs enough to be willing to invest, now they have lost the trust of many investors, people hardly invest in new project, even the scam ico's are finding it very hard to raise money.