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.
This is a very simplistic but yet effective logo. I love how geometric and straight it is. The designer did a great job making it simple and yet still easy to read the word WAVE. The fact that the A and the V tie into each other is eye catching because it