Lot of them are scam.But i had a luck ,or whatever you want to name it, to get a 70% of succesfull ico´s.I got tokens from over 40 projects in last 2 years but not all of them are on exchanges,lot of them will be in the next months.But that means for me that every 3rd project was scam or unseccesfull.
Btw,i haven´t earned anything by now,holding and hoping for better times