Sports entertainment heavyweight AEG and Singaporean crypto currency platform Crypto.com announced an agreement today to rename the iconic Staples Center home stadium to the Los Angeles Lakers and LA Clippers basketball teams, the NHL’s LA Kings and WNBA’s Los Angeles Sparks as the Crypto.com Arena.
The new logo and internal arena signage will be unveiled on Christmas Day, as part of the $700 million deal. .
“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 crypto currency can power the future of world class sports, entertainment and technology for fans in LA and around the world,”
said Crypto.com Co-Founder and CEO, Kris Marszalek.
Crypto.com earlier caught attention through the high-profile hiring of actor Matt Damon to promote its products. It has further deals with Formula I racing and is a sponsor of the NHL’s Montreal Canadiens.
Crypto currencies are becoming increasingly mainstream with 16% of all Americans having used a crypto currency at some time according to a recent Pew Research poll.