Out with the old and in with the new, or so the saying goes. When markets become saturated, companies need to look a little further to keep their products above their competitors. This is especially relevant in the high-octane crypto climate when things change by the hour, not the week. A rebrand is as good a way as any to get noticed once again, and Raiblocks is on the case.
When small, often obscure altcoins get picked up by the likes of Forbes, we can safely say that crypto is here to stay. The past few days have been bloody as, for the second time this month, markets shed double digit values across the board. Total market capacity for all digital currencies has plummeted from $600 to $480 billion in just two days. A slight revival has happened during Asian trading this morning. but most altcoins are still down, including Raiblocks.
Nano for the Future
The team has decided to rebrand its ‘block lattice’-based crypto token, Raiblocks, to Nano. In a Medium post yesterday, the core team explained the nomenclature behind the original:
In November, the team gathered to discuss the future of Raiblocks and develop plans to further the project’s growth. One topic discussed was the name itself (“Is it, ray or rye?,” “Ditch the Blocks!,” “Just call it Rai!”). Feedback from the community suggested that improvements could be made to better resonate with the public and a mainstream audience. Because of this, our team made the decision to rebrand.
Read Full: Rebrand for Raiblocks, Nano for the New Year