The Iconic Staples Center in Los Angeles will be renamed as the Crypto.com Arena from December 25, 2021.
Crypto.com will replace Staples as the title sponsor of the iconic arena, the most recent high-profile sponsorship move by the crypto company.
The Singapore-based cryptocurrency exchange Crypto.com has purchased naming rights to Staples Center in $700 million Deal. Owned and operated by Anschutz Entertainment Group, the venue will unveil its new name on Christmas day during a Los Angeles Lakers home game, according to a statement from the company.
“If I had to pick one place to have naming rights, it would be Staples Center,” in the world’s cultural capital, said Kris Marszalek, Crypto.com Co-Founder and CEO, in an interview. “This is in line with our ambition to be a top brand in the coming years, next to Nike and Apple.”
Staples Center is a multi-purpose arena in Downtown Los Angeles. Adjacent to the L.A. Live development, it is located next to the Los Angeles Convention Center complex along Figueroa Street. The arena opened on October 17, 1999.
“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,” states Kris Marszalek. “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.”
Read Also: LA Blockchain Summit 2021: The Mega Blockchain Conference In Los Angeles
Located in the heart of the entertainment capital of the world, the 20,000-seat, award-winning arena, has become a global symbol of excellence that has not only redefined and revitalized downtown Los Angeles, but has also helped set the industry standard for best-in-class facility management for other leading venues of prominence around the world.
It has served as the backdrop to some of the most memorable and prolific sports and live entertainment moments and events to have taken place in the last 20 years and together, through this partnership, AEG and Crypto.com will help shape the next 20.
Each year, this venue hosts over 240 major high-profile events of national and international distinction and over 4 million guests with events ranging from professional sports, concerts, family and award shows, boxing and special events, including the GRAMMY Awards, NBA All-Star Games and NHL All-Star Games among others.
It has also hosted some of the biggest headlining names and shows in music and live entertainment performing in concert and during 19 of the last 21 GRAMMY Awards shows.
Founded in 2016, Crypto.com currently has over 10 million customers with the world’s fastest growing crypto app, along with the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com NFT is the leading platform for collecting and trading NFTs.