Our first observation of this space is that all the projects that have engaged our auditing services seem legit projects. We cannot confirm the often quoted statistic that 80 % of ICOs are scams. Maybe this is because scam projects are not worried about audits anyway, by our observation is that the ICOs we have come across in our audits seem serious projects with the full intention of building a company. Most projects actually seem quite interesting, although some leave us to wonder whether the token actually adds any value beyond raising funds.