1. Figure out the purpose of the project
2. Figure out the functionality of the product they are offering
3. Check out the team and laid out roadmap
4. Invest when your research work makes u confident
Most of the projects launched recently are crap and have no real purpose.
To add from the above pointers, look out for projects that have real applications already in the market or been operational already.
Check how many users are currently using their platform. This will give you idea if they will have the potential to hit in the market.
And if you are not yet confident with your decision but have positive feeling towards the project, just wait for them in the exchanges, there's a chance that you can get them in cheaper prices.