Overview

The purpose of this document is to provide context for the contemplated renaming of FIO Crypto Handle to a different consumer name. The decision to make a change has not been made and comments are requested from the FIO community.

Past efforts

The FIO Address was renamed to FIO Crypto Handle in early 2022 following a series of meetings and surveys.

For reference see:

• FIO <X>: (Handle, Name, Tag, ID...)

• Renaming FIO Address to Minimize Market Confusion

Why is this being revisited now?

• The issue is being revisited as part of current project to build a FIO Crypto Handle Profile Page which will allow anyone to look-up any FIO Crypto Handle and its associated public addresses, NFT Signatures and Social Media links.

  • As part of the project users will be able to get a link to their FIO Crypto Handle. For usability the link should be easy and short, and the existing options were not:

    • dashboard.fioprotocol.io/cryptohandle/user@domain

    • cryptohandle.fioprotocol.io/user@domain

  • Alternatives were identified, such as:

    • fio.id/user@domain (domain now owned by Foundation)

  • This started the discussion if a global renaming of FIO Crypto Handle is warranted

• During a meeting with Steering Committee, Marketing Team, and Dashboard Teams on 2023-05-17 a straw poll was conducted if the change should be consider and out of 8 participants, none have voted to retain the existing name.

  • Reason brought up:

    • FIO Crypto Handle is too long and doesn’t “roll off the tongue”.

    • The word “crypto” does not align with the expanding FIO Crypto Handle use cases, specifically Gaming, addition of Social Media links to FIO Crypto Handle, and even NFT Signatures.

    • A key partner has expressed the opinion that the use of FIO in the handle potentially creates the impression that the handle only applies to FIO Protocol and a more generic name would make them consider more prominent placement.

    • The word “crypto” is often an obstacle in promotions as many advertisers ban “crypto” related ads.

New name

There are 3 name candidates being considered:

Other names may be considered as part of this effort.

DNS Domains

Foundation has secured name3.ee and fio.id as well as other variations in anticipation of this discussion.

Process

The Foundation does not have the resources to conduct another long effort to analyze if the new change is warranted, especially given that the last effort still lead us here. Therefore, there will be a short comment period, supplemented by partner outreach and followed by an official Steering Committee vote to decide if a name change should be conducted and if so to what name.

As previously, the name change would only apply to marketing materials (websites, Dashboard, partner products) and not to developer resources (code, Github, Dev Hub, etc.)

Challenges

Judging by the past name change, the process was not as involved as initially feared with the exception of getting partners to make the change in their product. There are still integrations that refer to FIO Address. It will take some effort and time before all partners make the switch.

Cost

There will definitely be opportunity cost to make the name change, meaning the existing WP Teams may have to spent some of their time facilitating the change. High-level estimates are below.

Website/Knowledge Base

None, it’s being built out and consolidated as part of ongoing project.

Dashboard

“Few days” of developer resources.

Marketing

Creating a blog and corresponding social media posts to inform and educate our community on the change and the reason for the change. Creating 1 video for YouTube and other socials explaining the evolution. All in all about 1-2 days worth of work.

Partner Success

Equivalent total of several days at work to communicate with each partner asking their feedback on a change, communicating the change once it happens, educate them on why it’s a good move to match our name, and follow up with those partners based on change execution dates that they give us.

Partner Feedback:
Partner feedback comes from an individual from each team and may not reflect the entire partner’s sentiment on the topic.

• Guarda:

  • FIO.id or Name3?

    • What would they choose? → FIO.id. FIO has a growing brand recognition. Short and catchy name.

• Opera:

  • Remove “crypto” from the name. Use Handle in name.

  • FIO in product name could cause confusion with FIO chain and interoperability.

  • Name does not have any impact on product placement with Opera.

• Dopamine:

  • Remove “crypto” from name due to expanding use cases.

  • FIO.id or Name3?

    • FIO.id – The name retains FIO branding while being concise and versatile. Provides continuity with existing brand and leverage reputation and recognition associated with FIO.

    • Name3 – Offers flexibility and avoids potential association limitations, it will require additional efforts to establish brand identity and recognition in the market.

    • What would they choose?→ FIO.id will be a more advantageous choice. Can capitalize on FIO’s reputation as a trusted partner. FIO is more than just wallet identifier like some potential competitors, it is an entire network.

• IoPay:

  • Remove “crypto” from name. Makes sense with growing use case, and can appeal to non-crypto natives. Can encompass more ground with generic name.

  • FIO.id or Name3?

    • What would they choose? → FIO.id sounds good due to brand recognition.

• AirNFTs:

  • Rebrand to something generic that the masses will intuitively understand. ex: Wallet ID

  • Remove FIO branding due to confusion with the chain.

  • Not opposed to keeping “crypto” in name.

• Edge:

  • Generic name to encompass expanding use case. Will consider more prominent placement.

  • [Name of Product] by FIO.