I tend to view ICOs the same way. I like the J curve description. So much hype at the start of most of them, better to wait a little and see, I think. And to do your homework, of course; read the white paper, see who's behind the project - simple, but essential! Then, ask yourself "is it vaporware?" Those who were around in the dot-com boom will know that phrase well, of the many ideas that were funded and never developed into viable businesses. I haven't done my research into this particular ICO yet, but just from the posting above it looks quite interesting, for a start. Merits a closer look.
RE: Hdac ICO - Blockchain Backed by Hyundai - Internet of Things Niche