The True Story Of How WWE Nearly F*cked Up Edge
He might have been sent back to Memphis or the various northeast indies that acted as "developmental" at the time. The WWF also had a loose working relationship with ECW, to which Brakkus was banished, but that particular fanbase would have eaten Riot & Rage alive for being a searingly fake and cynical attempt to tap into the alternative counter-culture.
What about WCW?
Edge evolved into a super-worker eventually, but he wasn't world class in 1998 - and in 1998, world class talents weren't promoted with much conviction in a Hulk Hogan-controlled company that literally branded those talents "vanilla midgets" in canon. Edge was tall, of course, but he wasn't Hulk Hogan or Goldberg, so he was f*cked. In reality, Don Callis dreamed up the name 'Edge' after listening to a radio station with the word "EDGE" in the branding.
And that was that, pretty much: Edge was christened with a generic, inoffensive name that even he didn't get - but one that he did make famous.