[RexetBlell]

No ICO is ever sold as investment (as far as I know). In a many cases they explicitly say that the tokens are completely useless to not get in trouble with the regulators. For example:

"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."

It's (almost) impossible to find words like "invest" or "investment" on ICO websites or white papers.