Crypto.com in the heart of Los AngelesThe exchange offers itself for hundreds of millions of dollars, the right to name a sports arena for professional teams, and which has hosted a famous event several times.

On November 16, 2021, the Staples Center advertises in a communicated the conclusion of a 20-year agreement between AEG and Crypto.com. AEG is the owner and operator of the Staples Center in Los Angeles which is the official headquarters of four renowned professional sports franchises : the Lakers, the Clippers and the Sparksbasketball – and the Kingsice Hockey.

This partnership covers the acquisition of naming rights for the site by Crypto.com. The Staples Center will indeed renamed to Crypto.com Arena. The exchange is ready to put on the table $ 700 million, paid entirely in cash and not in cryptocurrencies, to have its name associated with a place linked to high-level sports teams. The Staples Center is all the more interesting for brands in search of notoriety like Crypto.com, because the arena has hosted more than 15 GRAMMY Awards ceremonies in the past. The next one will be held there in January 2021. The Center has 20,000 seats.

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The Staples Center will soon undergo its first rebranding since it opened in 1999. The name change will be carried out on December 25, 2021, but the physical signs will not be changed until June 2022.

Crypto.com has entered into further deals with leading teams, sports organizations in 2021. The platform has entered into a multi-year agreement with Paris Saint-Germain in September 2021, in order to increase the visibility of its brand. The collaboration also concerns the online launch of exclusive NFTs linked to the club, on the Crypto.com marketplace.

Crypto.com is not the only cryptocurrency platform looking to make a name for itself through partnerships with famous sports brands. FTX has also adopted the same strategy to gain notoriety that, according to its CEO, could not have been bought “with Facebook ads”.

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