The LA Staples Center will be renamed “Crypto.com Arena”

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

The logo will reportedly be unveiled on Christmas Day for the Brooklyn Nets’ game with the Lakers, and a Staples Center mark should be removed by June. “In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” says Crypto.com CEO Kris Marszalek. LA Times. “This is such a brilliant move by the guys at [venue owner] AEG, because the next decade belongs to crypto. “

The Clippers star 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 comments. reported by The Washington Postis Ben Golliver. “It simply came to our notice then. It’s the same place, but it kind of exposes the story here … It’s good that we won’t be here too long. ” The Scissors owned by Steve Ballmer are moving to a new arena called Intuit Dome in 2024; the Commodities Center is currently the only arena shared by two NBA teams.

Crypto.com is based in Singapore and offers a Visa reward debit card that can be used with cryptocurrencies stored in users ’accounts after being exchanged in their exchange, as well as providing other cryptocurrencies such as NFTs and their own token. The company has ventured into sports sponsorship previously, including a $ 100 million deal with Formula One earlier this year and various partnerships with teams including 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 business card platform, one of the most important implementations of NFTs to date. And earlier this year, Miami Heat’s home American Airlines Arena was renamed after crypto exchange FTX.

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