Ico has been rebranded in many form conducted by different projects. I have seen where tokens were sold out in ICO for less than an hour and within 24hours. The bottom line depends on the validity and how potential that project want to unleash. Though, proper research is absolutely necessary before one can proceed and of course it's all about risk.

@OP whitepaper are just infographics and guide for projects, the tokens may not be sold out and you cannot force it on investors neck, the market cap is subjected to changes in the future. This market is uncertain.