There are hundreds of projects that have held token sales. The vast majority have not imploded. For what it's worth, I think the majority will fail to produce

There are hundreds of projects that have held token sales. The vast majority have not imploded. For what it's worth, I think the majority will fail to produce a profit. That's okay. A high failure rate is fine in an emerging industry. Venture capitalists can easily tolerate 90% failure rates for example.