Until now I invest in 8 IEOs, and only 3 are profitable, although now many ICOs are scams, but for me ICO became history when my money increased to 6x within 8 months.
Well.. during the initial days, ICOs were profitable. One of my friends used to invest in them. He told me that during 2017, there were a lot many good projects. But then a lot of hype happened in the social media about the ICOs, and by 2018 the scammers started flooding the ICO market. Even now there are a number of good projects ongoing. But I am yet to find a project that is optimally priced. Most of them are over-pricing their ICOs, by placing the soft-cap and hard-cap at unrealistically high levels.