There is like one new ICO-Platform every week. It's getting really ridiculous.
Most of them focus only on the "administrative" part of an ICO-launch and would onboard pretty much any project just to take a cut of their funding. Since there are currently several dozen ICOs every month, there is a serious money to be made without actually making any promises to the investors by themselves. They take profits without providing any responsibility. Easy money 101.
The problem is that none of them does actually evaluate if the projects they are helping to launch are legit and have any chance to succeed. Blockchain is not the solution for everything. Many, if not most, ICOs have no chance succeeding in the long run whatsoever.
I told you so ...
At the moment there is no way for an individual to evaluate every upcoming ICO to find out which one is worth the money. So people invest solely on hype, marketing and FOMO. This is really bad for the entire cryptocurrency ecosystem. So many folks will get burned, that it will start getting really hard to find investors for legit projects. Then the funding will go back to traditional VCs and all the banks will be like "I told you so ...", directly fueling Jamie the-big-manipulator Dimon & co. declaring Bitcoin a fraud.
The value of Crypto
In contrast to commodities the price and value of any cryptocurrency (just as well as fiat) is directly dependant on the fact whether people believe it has value. This way all the useless and scammy ICOs are destroying the trust in crypto which in turn destroys the value of crypto. And by powering such projects these platforms are directly responsible for hurting the entire ecosystem.
Due Dilligence ICO Platform
I am really hoping for an ICO platform, that would actually provide some responsibility and accountability for the projects they are launching and making money with. I don't expect them to guarantee any project to succeed for sure - that's of course impossible - but doing at least some sort of evaluations and due dilligence on the projects they are supporting to launch would already help tremendously.
Anyone out there?