Ranging from the most robust institutions to the most popular crowdsales, everything fails beyond a certain point of time. Of all the ICO’s of 2017, nobody expected for all of them to be successful. What may come as a surprise though, is the rate at which they’ve withered and died. 902 crowdsales took place last year and were being comprehensively listed by Tokendata. Among the reasons for the failure of 142 ICO’s and a subsequent number of 246 which failed since then, many included slowly fading into obscurity or due to taking the money and running meaning 46% of ICO’s have already failed.
It can be said that the number is even lower for the ICO’s which are still a going concern. A category which is labelled as “semi-failed” still contains an additional number of 113 ICO’s. The reasons include either the community being so small as to mean the project has no chance of success or because the team has stopped communicating on social media. So depending on the above information, 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.
The failed ICO’s often leave behind a trail of communities no longer tended are par for the course, websites no longer hosted, empty Telegram groups and abandoned Twitter accounts. A handful raised over $10 million, some raised a couple of thousand dollars and some raised zero. No contribution to the decentralized web for the betterment of humanity, no alpha release, no MVP was the result regardless of the scale of success.
Some ICO’s were doomed from the start. Of the projects which did not make it consisted projects such as Clitcoin, Neverdie, and Zero Traffic. Of the ICO’s which failed at the fundraising stage, some are trying again this year and are writing last year’s failure as a trial run. One such example being Freight trucking platform Doft. Entire continent in the case of Africa and developing nations comprised most of the national origin of the failed ICO’s.