That's precisely what the survey tries to find out. The idea is, for example, that some people read white papers (which should not be the same for every ICO). Other people might be influenced by the general market sentiment, while others look at the venture team or its advisory board. If we find, however, that characteristics like the team and white paper do not matter in investment decisions (as you suggest), this would suggest that investors act irrationally and mean that good ventures cannot really differentiate themselves from bad ventures. That's very problematic from a business perspective and should discourage good ICOs from happening.

So, please fill out OP's survey if you have ever invested in ICOs (https://www.unipark.de/uc/ICOs/).

Thank you!