My personal opinion is that blockchain related stocks can be a good investment given that the underlying technology that the firm is developing is genuine and applicable across many businesses. The distributed ledger technology can be implemented to many business models, but one has to really consider whether the firm’s blockchain application is able to generate a good cash flow to its shareholders. In addition to that, an investor will also need to consider their own payback period (the period in which an investor aims to reap the benefits of the investments). This payback period must match with the firm’s projected cash flows and dividend payout policy.
To evaluate whether the technology is legit and applicable, you will need a bit of knowledge of the tech the company is using. You probably could get some extra knowledge regarding the firm from the various research reports produced by the research houses or analysts. While stock investments are not as volatile as crypto investments, do bear in my that it is not risk free and to invest within your own risk tolerance. It should also be noted that capital gains from stock holdings are taxable (depending on the country that you are residing/citizen of) and hence your potential profits will be affected.