ICON Foundation dropped a ton of news. Let’s get into it.
theloop Rebrands to ICONLOOP
theloop, ICON Foundation’s main technology partner, has agreed to rebrand itself to ICONLOOP. The change will take place immediately, but will be fully reflected on the website and other marketing materials in near future.
This is a very smart and strategic move by theloop and ICON. Over the past year, we’ve seen many significant partnerships between theloop and institutions such as Nonghyup Bank, Kyobo Insurance, and the Korea Customs Service. Instead of broadcasting these announcements on theloop’s blog, the team chose to publish these updates on ICON’s official blog. I viewed this as ICON subtlety hinting at the possibility of future interoperability between these loopchain-based private blockchains, but many saw this as ICON using theloop’s partnerships for positive PR. Today’s rebranding of theloop successfully kills this FUD.
On a deeper level, the team had two options – feature ICON or feature theloop. In this case, the team chose to rebrand theloop to ICONLOOP, despite the fact that theloop has been around much longer than ICON. This is a strategic move that ensures ICON is the flagship product moving forward. On an aesthetic level, theloop’s branding involves all lowercase letters, while ICON’s is comprised of uppercase letters exclusively. Instead of branding ICONLOOP as ICONloop or loopICON, the team has chosen to change theloop’s identity to conform to the ICON brand – subtle but significant.