Staples Center Will Rename to Crypto.com Arena This Christmas

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By Shiela Bertillo

Staples Center, the downtown Los Angeles home of the NBA’s Lakers and Clippers, is getting renamed as Crypto.com Arena after 22 years of operation starting on Christmas Day, the arena owner AEG announced Tuesday night. 

The stadium’s new name was after Crypto.com, a Singapore-based crypto trading platform and non-fungible token marketplace. The deal was brokered by sports and live entertainment giant AEG Global Partnerships, which owns and operates the arena. 

The new name of the home of the Los Angeles Lakers will reflect the cryptocurrency shift by ”recognizing these technologies will be at the forefront of powering the future of culture, creativity and entertainment in Los Angeles,” stadium operators said in a statement, as cryptocurrency trading has surged among individual investors throughout the pandemic.

“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,” Kris Marszalek, Crypto.com co-founder and CEO  said in a statement. “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, the chief revenue officer at AEG stated that change marks “an exciting new chapter in the history of our company and our respective industries.”

“This partnership represents the fastest-growing cryptocurrency platform and the biggest sports and live entertainment company in the world converging to drive the future of sports and live entertainment,” he added.

On its launch on Christmas day the stadium will unveil its new logo and internal signage. All external signage will be replaced by June.

Crypto.com Arena, however, is not the first stadium named after a cryptocurrency brand. FTX, a cryptocurrency exchange based in Hong Kong, signed a deal this year with the Miami Heat and the local authorities — worth $135 million over 19 years — to rebrand the arena where that N.B.A. team plays. Instead of American Airlines Arena, it is now called FTX Arena.

This article is published on BitPinas: Staples Center Will Rename to Crypto.com Arena This Christmas

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