Apart from the obvious indicators of making sure the project is not a scam, prioritizing the analysis of the working product should come first.
These days I am looking for a project that makes buying and using crypto easy and allows you to safely buy things you want with it once you have it.
This is why I think decentralized exchange projects hold the most potential!
What are you looking for in an ICO?
I've just come from 2 exchanged based ICO and they are both successful and I'm currently promoting a new one now, I think this is the trend now if you want success in ICO an exchanged based ICO holds a good potential in the market, this is because of Binance success in their ICO.