Title: From Anonymous to Renowned: The Art of Naming Cryptocurrency Projects
Introduction:
The opening line of the popular game “Cyberpunk 2077” resonates with those seeking recognition in the cryptocurrency market. Just like wandering in a cyber world, having an impressive name is crucial for a cryptocurrency project to succeed. This article explores the different naming conventions used in the crypto space and how they contribute to a project’s identity.
The Astronomical and Physics Genre:
In the world of cryptocurrencies dominated by the English language, obscure and complex names are prevalent. Many projects aim for sophistication and prestige in their names. To be memorable, they go all out in creating unique and captivating names. The naming conventions can be categorized into different genres.
The Cosmos Ecosystem:
Cosmos, derived from the Greek word “kosmos,” meaning “order” or “world,” perfectly conveys the concept of a vast, interconnected blockchain network or ecosystem. Similarly, Atom, from the Greek word “atomos” meaning “indivisible,” emphasizes its fundamental nature as an essential part of blockchain technology. Osmosis, derived from the Greek word “osmos,” highlights the liquidity and interaction of data or assets within a blockchain network. Another astronomical concept, Galaxy (now known as Galxe), symbolizes a massive scale capable of accommodating numerous projects.
The Twilight of the Gods Genre:
Another approach to naming projects is drawing inspiration from ancient mythology to evoke a sense of mystery and profound significance. Greek and Norse mythologies are particularly popular sources for project names. For instance, Thorchain/swap derives its name from Thor, the Norse god associated with strength and security. Zeus Network aims to showcase its leadership and authority by referencing Zeus, the father of all gods in Greek mythology. Poseidon, the Greek god of the sea, is aptly used in DeFi projects to express the intention of asset liquidity. Odyssey, inspired by the Greek epic “Odyssey,” represents adventurous journeys. Metis, the Greek goddess of wisdom and Zeus’ first wife, is associated with the L2 scaling solution. Hermes, the Greek god of commerce and travel, perfectly suits decentralized exchanges (DEX) for trading.
The Affix Genre:
Unlike the single-word names in the previous genres, some projects combine concepts through affixes and compound words to create unique and intriguing names. The complexity of these names makes them unforgettable. Infrastructure projects, in particular, tend to follow this trend. Examples include Celestia, combining “celeste” (heavenly) and the suffix “-ia,” symbolizing the accessibility of data. Initia, derived from the Latin word “initium,” meaning “beginning” or “origin,” suggests a ready-to-use solution. AltLayer implies an alternative layer, questioning the need for independent application chains. EigenLayer, where “eigen” means “own” or “unique” in German, signifies a distinctive layer. SmartLayer, on the other hand, conveys the addition of intelligence or automation to existing technology layers.
The Delicious Genre:
Cryptocurrency applications, in contrast to infrastructure projects, often adopt names that are more relatable. The most common approach is to use easily recognizable and accessible food items like fruits and bread. For instance, Cake and Bake, representing cake and bread respectively, demonstrate the global popularity of different food choices. Sushi, Cherry, Burger, Gelato, and Taco are just a few examples of the diverse food-themed names in the crypto space.
The Parasitic Genre:
Some projects exploit existing popular names rather than creating new ones, leveraging the built-in traffic and recognition. For example, during the previous AI bull market, the rise of TAO led to a wave of ecological projects adopting names like Taopad, Taobank, Taodex, and Taoevm. Similarly, the word “Meme” itself carries a strong allure and recognition, prompting numerous projects to name their tokens “MEME” to attract attention and funds.
Conclusion:
The art of naming cryptocurrency projects is crucial for their success and survival in a competitive and ever-evolving market. While adherence to conventional naming conventions may seem important, it is not a guarantee of success. The true test lies in a project’s ability to stand out and resonate with users. Bitcoin, with its unassuming name, has proven to be an enduring force in the crypto world. Meanwhile, challengers with flashy names often fade away amidst market fluctuations. The cryptocurrency arena is an ongoing battle, where true worth is determined through actions, not just names.