You shouldn't only check for scams but also avoid project that are not likely to succeed. Fortunately the identification process is the same.
Read the whitepaper, understand how the product will work, what solutions it will bring and who benefits from this. Look at the team members and their expertise. Make sure their LinkedIn profiles are real and if they are participating conferences its a good sign that they are legit because they allow people to see them and it costs money to participate in a conference. Check their social media and importantly how responsive they are.