His name came from a misheard lyric in a Jimi Hendrix song. One of his songs is called "1983 - A Merman I Should Turn to Be." It tells a story sci-fi story about the Earth's surface being destroyed by UFOs and everyone hopping into submarines and living under the sea.
I thought in one part he was singing "Visitor Kane" and thought that was great name. It conjured up this character in my imagination. Later I found out he was singing "Grace of the King" and I just didn't listen well enough. Either that or Jimi needs to enunciate a little better.