One day a group of friend decided to start a business but they don't have enough funds and so they explore the idea of getting a crowd funding. While doing a research, they found out they can get the fund they want through ICO and with this, even without much knowledge about blockchain or how it works, they decided to launch an ICO. They started to hire a super techie freelance programmer, marketing manager, business writer and social media manager to start the ICO. They update their LinkedIn to have good profile and started to connect with different people to make it look like they have many connection. The project start with airdrops and people start to believe the token they have will Moon in no time. Supporters and investors join the project and they were able to reach more than their soft cap.
After ICO token sale finished, there comes the problem...they find it hard to use blockchain on their project and the complication it brings is too much, the super whiz programmer no longer know what to do. Roadmap unachievable. Funds running low as crypto market enter bear period and they started to answer "Soon" when asked for updates.
Conflict started to build in within the team and people started to complain about deadlines and updates of the project...super whiz blockchain programmer still find it hard to do the program. Finally and since no one knows them personally and they aint breaking any law, they decided to divide the funds they received and they are Gone.
The End of ICO.
Those of us in the crypto space will be able to relate and look back at this story in the future... This is the 2017 ICO craze. Probably 80% to 90% of those who did ICO.
But I still think there will be a handful of projects that did ICO last year and this year that will make a breakthrough and emerge as game changers in the crypto space. These remaining few that survived will be the
Blockchain Titans or Titans of Cryptoverse - the Google and Amazon's of crypto
Imagine if you'll be able to hitch a ride with at least one of those projects that will yield an amazing return in 5 to 10 years time