ICO's are certainly not scams, but they are high risk investments and deserve diligence as such. Generally, you are buying into a seed company in a rapidly changing space. There will be winners as there were in the .com era, but many ICO's lack significant backing and are vulnerable to collapse. Kudos, ICO'ing Nov 1, has my attention for this reason. They have a very strong dev team and advising board which positions them well to succeed.