It is not uncommon for businesses to get rebranded in a bid to push a new image, a new philosophy, or different product line. This is also true within the cryptocurrency space. Several crypto projects have over the months and years undergone rebranding, which typically ranges from a change of logo to name change, or even change in consensus algorithm. For example, RaiBlocks at a point changed their name to Nano, ZenCash rebranded to Horizen, and Antshares changed its name to NEO, amongst many others.

Although a change of name is not an indication that a project will do well, it is often accompanied by other updates, which may improve the functionality of a crypto project. In line with this, crypto project, Hexxcoin (HXX) will soon become Gravity Coin (GXX). The team noted in an official post that:

In the cosmos of cryptocoins a name can say it all. A good name inspires an image- a picture of the outlook for that coin’s future. A great name also provides some indication of what it is that the coin does. The best will tell both stories as well as be unique and memorable.

The name change is the first of many changes that are scheduled to be unveiled. Hexxcoin has also hinted that users should be expecting a new logo, wallet, some updates to their social media channels, and a website redesign.

With regards to the logo, interested designers can put in entries for the new design. The winning design will be taking home 250 $GXX.