There is consistent proximity throughout the logotype. The negative space forming the "N" makes sense with the name because looking at the logotype engages the audience when locating the "N". I also think the logotype font works well bold.
logo / Echo by Alex Lloyd
Hipster Logo Design Guide
Food infographic The Hipster Logo - Tim Delger. Infographic Description The Hipster Logo - Tim Delger - Infographic Source -
Filter017 LOGO & TYPO DESIGN COLLECTION 2006 - 2012 by Filter017 , via Behance
The Forty Ninth Supply Co by Nicolas Fredrickson / typography
30+ Great Logos with Smart Concepts
This logotype illustrates freedom literally by having the op half of the M fly off like a bird. The logotype uses the comparison of birds and freedom as a message. This logotype is effective in communicating meaning.