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.
I love these letters because of how light and cheerful they are to look at. The thin and thick lines add a sense of stability with room for play and goofiness without being over the top. It is the perfect amount of seriousness and playfulness.