If you're thinking of investing in ICO's here are the rules you can follow to ensure you don't pick a loser.. 

1- Is the idea something we believe can actually be done. Many of the ICO concepts sound like a bunch of guys got high and then put up a website.
2- Do we think they have the team to do it. A little research on the background of the founders goes a long ways. We've started ignoring the advisory boards as they are like logos on a nascar.
3- What is the regulatory landscape of the sector they want to disrupt.
4- What is the competitive environment of the sector they want to enter.
5- What are the underlying assets and is there a relationship between those and the coin they are issuing or the tangible market value they will create.
6- Is it a capped or uncapped raise and why did they chose that route.
7- Is their whitepaper legit.
8- Do they have a realistic roadmap.
9- How much of the issue is going to be held by founders and/or in reserve (short of dividend reserves).
10- Do they have a forecasted valuation model or any type of planned disclosure statements

If you follow these 10 Rules for ICO's you'll avoid major losses in shady deals.