The biggest challenge for ICO owners right now is to find proper funding for their project through bearish market conditions. Investors are reluctant with their current crypto assets as they wait for better days to return. The past events from the last year made it harder for legit projects to gain proper funding, because the credibility of the industry has been greatly affected. It is hard to tell whether an ICO provides real information and they plan to really implement their projects because of the many scams that we all encountered at some point.
However, legit ICOs with real teams that truly want to bring a positive impact in the crypto community have found transparent ways to prove their intentions. Team leaders complete their KYC, they provide working MVPs and work with professional agencies. Through their video interviews and AMAs, they reassure their community of investors and enthusiasts about their good faith and update them on the project that is being made. Experts have come together into one place, ICObench, where they provide unbiased ratings that provide an extra layer of trust and discourage projects that have red flags and might be scams.
Until now, the bearish market conditions have forced ICOs evolve to the next level and I believe that the current market is experiencing a much needed cleansing. In the following months, I am confident that once the fear of investing in scams is gone, the market will experience another expansion that will bring us closer to the mass adoption of cryptocurrencies.