The popular cryptocurrency trading platform - Crypto.Com - continues with its impressive partnerships and mainstream appearances. The latest deal with his involvement will see the iconic Staples Center renamed to Crypto.Com Arena.
The end of an era?
The Staples Center is a multi-purpose arena in downtown Los Angeles, perhaps best known as the home of the legendary NBA team, the Los Angeles Lakers. In addition, it is also home to other American basketball teams such as the LA Clippers, the LA Kings of the NHL and the Los Angeles Sparks of the WNBA.
For the first time in its more than 20 years of existence, the arena will have a new name, according to a post shared on its official website.
The deal will see the involvement of cryptocurrency exchange Crypto.com and live entertainment company AEG.
Both sides have signed a 20-year naming rights agreement, which will rename the AEG owned and operated location from Staples Center to Crypto.Com Arena. According to other reports, the whole deal will be worth more than $ 700 million.
New logo and new investors?
The digital asset exchange will also become the official partner of the Lakers and Kings cryptocurrency platform.
The new logo will first appear on Christmas Day when the Lakers host the Brooklyn Nets, while all outdoor signage will be replaced by the summer of next year to include the Crypto.com branding.
“We are very excited to partner with AEG and invest long-term in this city, starting with the Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can fuel the future of world-class sports, entertainment and technology for fans in Los Angeles and around the world ”. - commented the CEO of the exchange, Kris Marszalek.
This is the second deal involving a cryptocurrency exchange and an NBA team this year that has renamed the latter's arena. As reported in March, FTX signed a $ 135 million deal to rename the Miami Heat headquarters to FTX Arena.
And what do you think of the name change of the iconic Lakers arena? Of course, it's good for the mainstream spread of cryptocurrencies. But where do we leave the heart in these cases? Let us know in the comments below.
