The problem we have in the NEM community is that many people who are new to the ecosystem think that XEM is actually called NEM. So they ask “when NEM pump” and things like this. But NEM is the name of our ecosystem. So there is confusion. Then there is the issue that some people call the first blockchin NIS1. Then others say that we don’t need the 1 - we should just have NIS. Then some people think we don’t need NEM at all. The reason Dan has published this forum post is because many people in the community feel this should be discussed openly. The naming of our Telegram groups is dependent on the conclusions the community reaches. Plenty of other marketing is dependent on this. So it is important that it is fully agreed by everyone. Crypto is more about marketing than anything else, at least at this stage in its development. But I reiterate, this discussion has been prompted by the community and that is why we are talking about it.
No need.
Why do we do this now?
Symbol was born with a lot of expectations from a lot of people. But it is turning into a disappointment. The price is a true testament to that.
Now, NGL should spend almost all of its resources on Symbol.
I appreciate that you asked the community for input, but the very existence of this proposal is disappointing.
“NEM” is from “New Economy Movement”, full of grand ambitions and aspirations to bring about social change and change the existing economic framework. So the name “NEM” is therefore the opposite of “classic” that brings with an image of establishment and tradition.
What we NEM users need to do now is to take advantage of the strength of the platformal cryptocurrency and apply to the existing economy of the real world, and to increase the opportunities for its use in the market. Not to sort out our complex about our own child “Symbol”.
We need a strong enthusiasm to create the new economy with NEM and Symbol.
I thought it may be helpful if I give some insight as an admin that also works with business development & marketing.
These are my personal views. Other admins and employees may have differing view.
After many years, I’ve come to view NEM as The Movement. The Movement is an organizational structure, a community, an ecosystem, and brand.
The Movement sustains the development and expansion of two primary products: Platform 1 (NIS1) and Platform 2 (Symbol)
The first has many years of main net with no downtime or hacks. The other is brand new, with advanced features, high throughput, and improved tokenomics.
Each platform is unique.
On a daily basis I find myself explaining to businesses, media, and new community members the relationship between, what they see as “The NEM Coin” (XEM), Symbol (XYM), NEM Group, “NEM Platform”, and “NIS1”.
From their perspective, they see “NEM” listed on Coinmarketcap, and thus associate it with a single coin. - XEM
To them, Symbol appears as a new side gig. Almost like a secondary extension - not a flagship product of The Movement.
In my view, NEM is not product. NEM is not something you can buy. NEM is not a coin.
NEM is the New Economy Movement.
With the above as the intro, I propose a renaming of “NIS1” AKA “NEM Platform” to something new. This new name would have it’s own sub brand under the NEMbrella, just as Symbol has.
The branding must differentiate itself from Symbol, as well as the NEM Movement.
If we keep the same ticker (XEM) it makes sense to choose a name that includes the letters “EM”
Some examples: Empire, Emerald, Eminent, Premier, Template, Democracy
With the above changes, there would indeed be some initial confusion. However, I believe that this will solve many branding problems long term.
When someone asks “What is NEM?” - The answer is now easy. It is the movement behind the Democracy and Symbol blockchains. (Democracy chosen as an example of what new name could be)
More Thoughts, Questions, Answers, and Arguments:
- With the NIS1 plan to Review, Recruit, Retool, and Refactor, I believe it’s a fitting time to also Rebrand.
- Some may ask, “How important is this?” - “Are there not better things to spend time on?” - My answer: It is important to do something.
People often remodel their homes, even though the home is serving it’s core purpose. Remodels are done to improve the efficiency, comfort, utility, and marketability of the home itself, as well as things that happens in and around it. - I understand that changes are not always easy. And they rarely please everyone. But branding changes are not rare in business, and they are done for the advantage of the business. Almost every brand we are most familiar with has undergone a rebrand of some degree over the course of our lifetimes.
- I am not a fan of “NEMclassic” as a name either. It does two things:
a. Implies something is obsolete, outdated, discarded.
b. Does not differentiate the product from the movement - The argument was made that rebranding NIS1 distracts from progress on Symbol. - I argue to the contrary! Rebranding NIS1 allows Symbol a level playing field in which it can stand out as a top tier product.
- For clarity: NEM, The Movement, can retain it’s core branding. It is NIS1, The Platform, that should undergo rebranding.
- I’d like to see the community united in The Movement. Not divided by platform.
I understand this, but I think the focus must ne to get XYM/symbol thing going on with tier 1 listings and CMC.
I also highly suggest to rebrand symbol to NEM SYMBOL and then NEM NIS or something like that to let media know what is Symbol.
cant have twice the same cointicker…
but u could have
XEM NEMoriginal
XYM NEMsymbol
which i think would be a good solution and explain that both is NEM
which is whats really lost now
its like we split up into different communities and even fight each other
even if we should be one ecosystem and support each other
after to arguments i re4ad whats bad with classic i prefer orginal or even
XEM NEMnis
XYM NEMsymbol
but i think its needed that both contain NEM in it
its early enough to adapt to that
the longer we wait the more different it is and the more harm in split us and lose the linking element (NEM) is done
GEM = XEM
- a precious or semi-precious stone, especially when cut and polished or engraved.
- an outstanding person or thing.
XEM = NEMesis ? (NEM + genesis)
If it’s hard to explain, just change Symbol to ‘NEM2’.
It used to be the NEM Foundation, now NGL dictatorship?
The name ‘Symbol’ is a name decided by incompetent leadership. And they forced the community to vote for it.
The NEM Foundation said, “This is the name the community decided to name it”.
No, that’s not true.
We were not given a choice.
If it’s hard to explain, just change Symbol to ‘NEM2’.
I don’t agree to spend energy on renaming the old chain at this time point. We are in a bull market. We should pay more attention to the price and market value of XYM/XEM. because we have missed most of the bull market. Now is also the time to prepare for a bear market.
Hello, please check the post in this thread by @leoinker for more background on the reasons why the community (not NGL) are opening this conversation.
Hi Thilon, this conversation was prompted by parts of the community which is why Dan has opened this conversation. If the consensus here is that nothing should be changed, then nothing will be changed. NEM Group is devoting its efforts to Symbol and reframing the marketing approach, just as you suggest. Thank you for your feedback.
Hello, yes the focus is of course on Symbol right now. Your suggestions about branding have been noted. Thank you for engaging. Right now, we are using NIS1 not NIS. That, at least needs clarification.
Hello, this is not a NEM Group initiative. It has come from the community and Dan has raised this after being asked to do so. We are investing a lot of effort into Symbol now, especially the marketing aspect. Plans are being laid down to give the community what we want. Regarding timing of this discussion, everyone is free to open any conversation at any time. If you have anything you would like to discuss on other topics, just post it and I will always answer.
Agreed, this is not the focus of NEM Group. It is just a post and takes five minutes of one person’s time. This is not a NEM Group initiative. This request for a re-think of the name of NIS1 came from the community. Dan was asked to post this, but next time we will insist that the community members who have concerns post this themselves. All our focus right now is on generating the hype and buzz you are talking about regarding Symbol. Plans are being laid now. Thank you for your patience.
Hello, just so you know, this is not a NEM Group proposal. The idea to get clarity on the name of NIS1 or NIS came from the community and some super nodes. Dan has tried to summarise their queries. He is not proposing anything. Next time we are asked to do this, we will insist that anyone with suggestions about anything NEM-related post these to the forum themselves. Our focus is on Symbol and generating the buzz you are talking about. Plans are being laid now. Thank you for your patience.
Hello, this post is opening a discussion prompted by some parts of the community. It is not a NEM Group proposal at all. Dan is just summarising the comments he has received from the community about whether the first blockchain is NIS1 or NIS, or perhaps something else entirely. The most important thing we want to see is community consensus. The relationship between NEM and XEM is also confused. I spend a lot of time managing the online communities (mainly English speaking) and they really don’t understand the relationship between XEM, NEM and XYM. It should be talked about. We hear lots of people confused about how to even pronounce NIS1, which is not great for “word of mouth” marketing. Everyone has their own views and so it’s important they can be heard here. If you would like to talk about other aspects of NEM aside from the branding /naming, please write your own post. I’d like to respond to that.
Use NEM 1.0 GEM = XEM for the old chain and NEM 2.0 SYMBOL = XYM for the new chain.
Problem solved
We don’t know of any route that the NGL people can suggest on behalf of anyone else for such a serious subject. Is the “community” you speak of a few privileged people? I don’t think that’s a very fair approach.
Many people in the Japanese community have expressed their opposition to the NEM naming change. Since you don’t seem to understand the Japanese community that has been a powerhouse for the spread of NEM, I suggest you understand them first.