The logo is for a web application where people come to find rankings, reviews, and discussions of new (and old) awesome stuff, from movies to music to ideas to charities.
It is a community for people to share and discuss the things they love with others who care about the same things that they do.
It is a user-driven application—a project carried out by those most passionate about the subjects of their reviews, and mainly for the sheer fun of getting the word out about their favorites
NOTE: The site will also serve as a way to funnel money into the charities and causes people believe to be the most deserving
…are looking for advice and recommendations in different areas
…are looking for gifts for themselves for their friends and family
…are interested in rankings of stuff
…are browsing the web for cool new sites and videos
…like to discuss and share their opinion on things they are interested in
Some things to think about:
Of the two words favorite is the more important
You only have one favorite
Your favorite is something you enjoy/love the most
The site is user-driven—I am just providing the template
Hidden meanings, use of negative space, and wordmark are awesome, but please nothing too fancy
There is also a lot to say for minimalism and simplicity
The words Project and Favorite can be kept together, moved apart, put one on top of the other, put diagonally from each other, be the same size, or have favorite bigger or bolder than project.
I like the way ProjectFavorite looks with the first letter of both words
capitalized, but am not opposed to variations.
Please feel free to try out different color schemes; I will let you know if it feels right.
UPDATE: Please see comment board for the update
Here are some cool sites with collections of great logos to help inspire: