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Staples Center in LA to be renamed “Crypto.com Arena”

The Staples Center, home to Los Angeles sports teams including the Lakers, Clippers, Kings and Sparks, has a new name: “Crypto.com Arena”. Yes, Crypto Dot Com Arena. The cryptocurrency exchange has paid more than $ 700 million for 20-year naming rights, according to the Los Angeles Times, making it one of the largest such transactions ever. Staples paid $ 100 million for the rights for 10 years in 1999.

The logo would be revealed on Christmas Day for the Brooklyn Nets game with the Lakers, and the Staples Center branding is expected to be phased out by June. “Over the next several years, people will see this moment as when crypto broke the chasm into the mainstream, said Kris Marszalek, CEO of Crypto.com. Los Angeles Times. “It’s such a brilliant gesture from the guys at [venue owner] AEG, because the next decade is in crypto.

Star Clippers forward Paul George is less convinced by the move. “I grew up with… Staples Center being the place to play and the place to be,” he says in the comments. reported by The Washington Postby Ben Golliver. “It will definitely be weird. It’s the same place, but it’s kind of stripping history here… Luckily we won’t be staying here too long. Steve Ballmer-owned Clippers move to a new arena called Intuit Dome in 2024; Staples Center is currently the only arena shared by two NBA teams.

Crypto.com is based in Singapore and offers a Visa Rewards Debit Card that can be used with cryptocurrencies stored in users’ accounts after being traded on its exchange, as well as providing other crypto services like NFT and its own token. The company has already ventured into sports sponsorship, including a $ 100 million deal with Formula 1 earlier this year and various partnerships with teams such as Paris Saint-Germain, the Philadelphia 76ers and the Montreal Canadiens. .

The NBA, of course, is no stranger to blockchain technology, having partnered with Dapper Labs to launch the Top Shot trading card platform, one of NFT’s most common implementations to date. And earlier this year, the Miami Heat’s American Airlines Arena home was renamed after the FTX crypto exchange.



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