Ethereum being the first decentralized smart-contract platform that allowed this kind of permissionless fundraising through ICOs. Sure, there were a lot of scams to be avoided, but look at some of the high quality projects we have today that came from the original ICOs of Ethereum.
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Exactly! If we look beyond the scams, we'll find that it paved the way for some solid projects that exists till today and have grown in size to occupy major positions in the space. The problem for investors is how to figure them out from the onset, that's the hard part.