The future of ICOs

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It is almost a year from the first bull run of Ethereum and all hype around the crypto. We were witnesses of the super high demand in ICOs and new projects in the crypto world. Some of them are like a speculative instrument, others have a usage in real-life cases. What I really want to hear from you and discuss: How do you see the future of ICO projects? Will they be regulated or not? Do we have to expect the new era of crowdfunding process?