Nephi and his band name their new home after their leader Nephi. This naming appears to be a continuation of the tradition of naming places for people that was part of the nomadic tradition of Nephi's family. Lehi had named a river for Laman and a valley for Lemuel (2 Nephi 2:8,14). Coming to a new place where they were to make a new home, they desired a way to refer to the place, and used Nephi's name. Where Lehi had named the river and valley out of hope, this land was much more likely named for respect.