I just started with this so maybe it turns out I'm completely wrong here... but what I looked for was the following:
*Good project idea
*Enough people intrested in the project
*Good team
*Good bounty manager
*Enough funds distrubuted to bounty hunters
So basicly the same stuff I look for in an ICO except for the bounty part.
better add on this is the UNIQUENESS OF THE PROJECT thiis one of the most important thing about every ico project must have,copycat is most what is going now thats why they become shitcoins when comes to market,and the MANAGER like mate said is important because reliable managers wont let his name at stakes when scams are indeed