If you have not encountered Crypto.com you are off-grid. From the ubiquitous television commercials starring Matt Damon to widespread promotions, the digital asset marketplace is everywhere.
Today, crypto.com is entering a different realm by purchasing the naming rights of the Los Angeles Staples Center – soon to be known as Crypto.com Arena. The change will take place on Christmas Day.
The agreement will cover the LA Lakers, the Kings, Microsoft Theater, etc. thus vaunting Crypto.com to the front of international sports venues and the affiliated exposure. Brokered by AEG Global Partnerships, the agreement is for 20 years and soon no one will remember Staples but everyone will know about Crypto.com.
Crypto.com co-founder and CEO Kris Marszalek commented:
“Known as the Creative Capital of the World, the city of Los Angeles and the people who call it home have always been pioneers, pushing the boundaries and innovating as the undeniable global leaders of culture and entertainment. We’re very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world class sports, entertainment and technology for fans in LA and around the world.”
Todd Goldstein, Chief Revenue Officer of AEG, said the partnership represents one of the fastest growing crypto platforms in the world converging with the future of sports and live entertainment:
“It marks an exciting new chapter in the history of our company and our respective industries, and we couldn’t be more thrilled to have such a visionary partner like Crypto.com supporting our global fan base and local community.”
This is not the first arena to be renamed after a crypto firm. FTX staked a claim to a similar deal in Miami.
As for Crypto.com, it is a digital marketplace that operates in 90+ countries servicing over 10 million users. With a Visa Card, payments, NFTs, borrowing, and lending, Crypto.com is more of a neo-bank for the digital future. The only thing missing is for the regulators and policymakers to catch up with this generational shift in financial services.