The enduring Staples Center in Los Angeles will change its name to the Crypto.com Arena this Christmas, marking the top of an period for the stadium and turning into maybe the most recent signpost of cryptocurrency’s push towards the mainstream.
The name change is “recognizing these technologies will be at the forefront of powering the future of culture, creativity and entertainment in Los Angeles,” stadium operators stated in an announcement Wednesday, as cryptocurrency buying and selling has surged amongst particular person buyers all through the pandemic.
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The 20,000-seat venue has been known as the Staples Center, after the workplace provide chain, since opening its doorways in 1999.
The venue has gained nationwide prominence after internet hosting main occasions such because the 2000 Democratic Nationwide Conference, 19 of the final 21 Grammy Awards exhibits and concert events from world superstars together with Beyonce and Taylor Swift. It’s also dwelling to the NBA’s Los Angeles Lakers and Clippers, in addition to the NHL’s Los Angeles Kings and the WNBA’s Los Angeles Sparks.
Particulars on how a lot Crypto.com, a Singapore-based crypto buying and selling platform and non-fungible token market, paid for its new namesake stadium in Los Angeles weren’t launched. The deal was brokered by sports activities and dwell leisure large AEG World Partnerships, which owns and operates the world.
Beginning on Christmas Day, when the Lakers host the Brooklyn Nets, the stadium will unveil its new brand and inside signage. All exterior signage shall be changed by June.
“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,” Crypto.com co-founder and CEO Kris Marszalek, stated in an announcement Wednesday. “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.”
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Crypto.com additionally lately added actor Matt Damon as a spokesperson because it seeks to ramp up model recognition within the U.S.
“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,” stated Todd Goldstein, the chief income officer at AEG. Goldstein added that it marks “an exciting new chapter in the history of our company and our respective industries.”
The name change echoes traits seen elsewhere within the U.S., as earlier this 12 months Venmo and PayPal introduced they might begin letting customers purchase and promote crypto on their apps.