ICOs Going Bust At 46 Percent Rate in 2017, Says Bitcoin.com Surveybr>
Cryptocurrency news site Bitcoin.com reports in a survey that 2017’s crop of initial coin offerings (ICO) saw a whopping 46 percent already failed.
Bitcoin.com said of the 902 ICOs tracked by TokenData, 142 failed before raising funding and another 276 failed after fundraising. There are another 113 that appear on the brink, or “semi-failed,” according to the survey. In those, the projects have faded or the community has withered. If those are counted in the totals, then 59 percent of ICOs have failed. The total funding of failed projects last year amounted to $233 million.
While those figures show the high risk involved in ICO investing, it also points out that any startup carries substantial risk. About 20 percent of all new companies fail, according to US government statistics, with 75 percent of venture capital-backed projects going down.