The governing body has made the change also to be more relevant and accessible to younger audiences.

Each stop is being labelled as a festival and will see competitions take place in Dubai, Cape Town, Perth, Vancouver, Los Angeles, Hong Kong, Singapore, and Madrid.

The Emirati city of Dubai is set to stage the first event from December 2 to 3 this year.

"We are excited to be launching HSBC SVNS, the supercharged new identity for our Olympic format, with iconic destinations and a new concept on and off the field, broadening the reach and appeal of the sport beyond its traditional audiences," said World Rugby chief executive Alan Gilpin.

"Our ambition is for SVNS to be at the forefront of our growth strategy, appealing to a younger, leisure-hungry audience. 

"In eight iconic destinations played over seven months, we will bring together a truly immersive festival of rugby, music, food and experiences to create the ultimate weekend-long get together for young people, the hottest ticket and open a new era for the sport. 

"For the first time in rugby sevens history, all locations will be unified under the same approach, meaning that the overall experience is the same and we can optimise commercial revenue for reinvestment, including playing our part in ensuring that sevens is a viable career path for the talented players and Olympians."

The rebrand comes following consultation with players, fans, broadcasters and unions.

The top eight placed teams based on cumulative series points at the end of the Singapore event will compete in the Grand Final in Madrid from May 31 to June 2 where women's and men's champions will be crowned. 

The Spanish capital is also due to play host to the relegation play-off competition where teams ranked ninth to 12th will join the top four teams from the World Rugby Sevens Challenger Series.

The top four teams of this will then secure their place in the following season's SVNS series.

The number of teams have been reduced from 16 to 12, aligning with the Olympic model.