Apart from the already mentioned things such as the quality of the team, the quality of the whitepaper and the potential for real world application, an investor needs to make a judgment that the project stands a very good chance of actually getting implemented, and that's very hard to work out. There are certainly lots of projects that will never be realized, and as far as possible they need to be identified and avoided. Some projects sound very good but won't get very far. Quoine's team are promoting only projects they consider bona fide, so they are doing the job for us of selecting ones they reckon are worth seriously considering, but how many of the ICOs will actually prosper cannot be known. So there is a risk in investing in any ICO. Caveat emptor: Buyer beware! I've invested in only one ICO I think, but when I saw their last recent video I realized how little the project has been developed and I concluded I've probably selected a dud. I hope I'm wrong. (Btw I'm not talking about a Quoine-backed ICO.)