Detailed some steps to follow to avoid scam ICOs here: https://bitcointalk.org/index.php?topic=5024445.msg46019400#msg46019400

But the most important point of all is to find whether it is absolutely necessary to have the coin/token in the first place (i.e. would the project not be possible without a coin/token Eg. ETH for smart contracts) or whether having the coin/token actually solves an existing problem/fills a gap (Eg. Streamr - data ownership and tokenization) or whether it's a novelty item that captures a niche market (Eg. cryptokitties). If any of the above is true, then it is an ICO worth exploring.