The Moon, The Soon and The Gone: A Tale of ICO

[flying_bit]

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.

[siddartha1492]

You know what, your tale is still very optimistic. At least the guys had an intention to create something. That's another thing that they were not capable of. Majority of ICO projects are lead by people who just want to raise money so that they can spend their whole life in private Yachts! So this is still better. Between are you pointing to any specific project!

[flying_bit]

So this is still better. Between are you pointing to any specific project!

Nope, not pointing to any project. I just want to believe that ICO projects really have product in mind with vision and mission for blockchain to have real use case but things is too complicated that they just give up. I have joined many ICO and I really think if all of project I joined will succeed then our virtual world will be such a better world with blockchain.

[Pamahaw]

Scam, why did they did not return the funds to the investors? If they are honest of making such project and then failed then it is proper to let the supporters know the truth no matter what and refund the investors, don't divide the funds amongst themselves.

[cola-jere]

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 

[libert19]

Scam, why did they did not return the funds to the investors? If they are honest of making such project and then failed then it is proper to let the supporters know the truth no matter what and refund the investors, don't divide the funds amongst themselves.

Aw, such honest thoughts. If they did such thing then ICOs would not be getting bad mouthed today.

Most of ICOs launched in 2017 already exited from market.

[covfefe_]

Remember they are not gone already. They are surviving and still coming. They are just waiting for another cycle of that wave.
ICO has already made a change in fundraising industry and renowned companies are still considering ICO as a better way to get funds.

[Mt. Dempo]

yes, I think that's the reality that often happens in ico and your story is very true. but we have to be proud, because there are still a few successful ico, have finished their products and can survive to this day. every investment always has a risk, therefore we must be smart and careful to choose it.

[anjho.ace]

I wanna see THE MOON on the time that we can tell THE SOON.
And i dont want to see THE GONE on this cryptocurrency.
This is a good development of EARTH for the future.
We need change for better and this is a good one to replace FIAT!

[poodle63]

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.

Then there will be no a lot of major coins when mostly of them are failed to deliver the blockchain. Some icos indeed created non sense idea but let's put our focus not into only the ico which has created a non sense idea. There was a bunch of good ico if you have been doing your research properly.