L.A’s Staples Center to be Renamed Crypto.com Arena
The home of the Los Angeles Lakers, Clippers, Kings, and Sparks, the massive Staples Center is primed for a rebrand with a cryptocurrency twist this upcoming holiday season.
A deal worth $700 million between Crypto.com and Los Angeles arena will result in the renaming of the Staples Center into “Crypto.com Arena”. This comes as cryptocurrencies continue to gain more widespread acceptance and adoption, particularly in the sports scene.
The 20,000 seat arena has been open for twenty two years now and hosts approximately 250 events each year, with an annual average of 4 million guests passing through. This is set to be a game-changer in terms of exposure for the crypto platform whose name will now be synonymous with the arena. By gaining naming rights for the next twenty years, the arena will serve as a constant ad for brand awareness for the crypto exchange platform.
Speaking on the matter, CEO of Crypto.com Kris Marszalek said, “In a few years down the road, people will look back at this day and they will think OK, this is the moment that cryptocurrencies kind of crossed the cosmos into the mainstream.”
Previously, the popular crypto exchange FTX announced that it had reached an agreement for 19-year naming rights to the home of the NBA’s Miami Heat for $135 million; it will now be known as the FTX Arena. Another marker of brand awareness and equity, FTX also revealed that they would be sponsoring Major League Baseball (MLB), becoming the first cryptocurrency exchange to sponsor in professional US sports. As part of the deal, MLB umpires will wear an FTX logo patch on their uniforms.
Staples Center’s rebrand is set to happen on Christmas Day, December 25, 2021. Merry Christmas to all crypto and sports fans!