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I agree with Andy to try having the illustration start at the 'O'.
I like what you have here, but I wonder how it would look with a more rounded font to match the curves in the illustration.
This typeface does work, but it needs to be played with just a touch in kerning. Things like between the pr it's a little mroe tight than between the ro and oj. Try to either make it all similarly loose or similarly tight.
Great logo with a few touch ups! Very creative!
