Back in 2018, EOS (CRYPTO: EOS) was one of the highest-profile cryptos in the world. It had a best-in-class Layer 1 blockchain that promised lightning-fast transaction processing speeds as well as zero fees. The hype was so great around EOS that it raised over $4 billion in one of the biggest initial coin offerings (ICOs) in Crypto history. But since then, almost nothing has gone right for EOS, and even though it still ranks as a top 40 crypto by market cap, many people have never heard of it.
However, now it looks like EOS is attempting a comeback. The crypto world is calling it a "rebrand," and it involves a major effort by EOS to convince developers, users, and investors that it's back. It is basically throwing out its old developer team, getting a brand new developer team, and planning for a new tech upgrade on Sept. 21 that will prepare it to handle the Web3 future of blockchain development. So is this the start of something new and exciting, or just more hype from a crypto that has already been written off by many?
In the tech industry, rebrands, reboots, and pivots are nothing new. Even some of the most influential names in the tech world -- such as Alphabet , the company formerly known as Google, and Meta Platforms , the company formerly known as Facebook -- have done them. In the best-case scenario, a rebrand is simply a way to signal to investors that something is changing in the business focus of the company (as in the case of Meta), or that the company wants to be known for more than just one thing (as in the case of Alphabet).
For further details see:Could This Crypto Skyrocket After Its Rebranding?