I am of the opinion that many of these ico's are just ways of a company to scam people out of money. Just this past week there was an ico that generated a lot of investors in a short amount of time, but if you go to the website where the initial coin offering took place it is no longer up and running! I suspect that a lot of banks may be involved with funding these ico so that it can look like a lot of people are interested and get others to buy into it. Thus far I have only invested in one ico, and that is crytoping. I did so because its very cheap to get started and they have a service out already that I find reliable which is their bot. I was going to invest in polybius ico but after I saw $10 for one coin and that they weren't an american based company I decided against it.
This is a very good post written on it by a fellow steemian:https://steemit.com/scam/@moonjelly/how-to-create-an-ico-scam-in-5-simple-steps
Care to check out cryptoping's ico and leave your opinions on it? The ico ends in 8 days!