More than half of
According to CCN, ICOs have raised $8.3 billion in just Q2 of 2018, but a great deal of them missed their targets.
Most of the failed ICOs offered services and utility tokens. Looks like the conditions of issuance, token type, and metrics had an effect on the project success. This doesn’t mean that every ICO that failed was a poor quality project or a scam.
CCN suggests that the overall project quality has gone down. A small portion of
ICORating indicated that the median return of a token in the Q2 of 2018 was at a loss of 55%. The first quarter saw a return of 49%. The decline can be linked to the poor performance of cryptocurrency markets in the Q2 of 2018.
Also, according to the study, 57% of
“The highest percentage of unsuccessful ICOs in terms of product readiness arose from projects at the idea stage. 58% of such projects failed to raise more than half a million dollars.”
The majority of investors were interested in projects that had a working MVP. On average, such projects raised around $34 million on average during their ICO phase.
The most popular industries of Q2 were finance and blockchain. EOS, a blockchain architecture, raised $4 billion over the past year and PumaPay, a finance-related project, was one of the most successful projects in the second quarter.
Projects related to finance, gaming, VR,
Sources: CCNCharts from