It is very important to look for a project that really has a working application or even a prototype one because a project without a working projeduct is like a human without soul. ICO is good to invest into because we all know that gains are pretty high if it will be a successful project but the only problem with them is lack of support from investors that had experienced of getting scammed by projects with too good to be true promises. I think it is better if ICO's will be regulated for the security of investors and of course the project to succeed due to full and fearless support of the participants. For me if you have tokens from unsure projects, only wait a week after it get listed and then decide whether to sell it or hold.