The formula N₈I₇ represents a covalent compound, meaning it is composed of nonmetal elements sharing electrons. It does not have a commonly recognized name.

Here's why:

* Non-Standard Formula: The formula itself is unusual and doesn't fit into typical naming conventions for covalent compounds.

* Unlikely Existence: The existence of this compound is highly unlikely. Nitrogen and iodine have different electronegativities, making a stable bond between eight nitrogen atoms and seven iodine atoms highly improbable.

If you are trying to name a compound, please double-check the formula. It's important to verify its accuracy and the potential existence of such a compound.