Initial Coin Offerings (ICOs) continue to attract large sums of investment dollars. With investor interest comes a volume of deals to sort through.

My four rules for investing in an ICO are:

The team is always the first criteria. The project needs a capable team, preferably one that has already built something successful. Just about every startup failure I’ve invested in goes back to the team not being up to the task.

There needs to be a real product where...