The Staples Center arena in Los Angeles is ready to change its name to Crypto.com Arena under an agreement deal with crypto.com.
Crypto.com is a popular crypto exchange, which provides a crypto wallet and crypto-related services to its users globally. In recent years, Crypto.com tried its best to promote its services in the non-crypto industry to bring a huge volume of users to its platform. Recent partnership and agreement deals of crypto.com indicated that crypto.com wants to bring sports fans into crypto.
In the latest, Crypto.com did an agreement with The Staples Center arena, Los Angeles. Under this agreement, Staples Center Arena will change its original name to the Crypto.com Arena for the next 20 years.
The amount of the deal is not announced in the public domain but still, reports claimed that the deal was done with the $700 million. However, officials citing this matter denied telling the figures.
Reports also confirmed that if the $700 million deal is true then this is going to be the first-ever biggest deal in the sports field for a crypto firm.
The new Branding name of Staples Center Arena will be announced on 25 December during the Christmas holiday when the Los Angeles Laker’s host the Brooklyn Nets. However, the external signs will be changed by the middle of next year.
Under this agreement deal, Crypto.com will be the official partner of the Los Angeles Lakers and the LA Kings.
Staples Center Arena is owned by the entertainment and sports company AEG. AEG also has its hands in the music industry in London and Berlin.
CRO token surge
Recently, Crypto.com launched the mainnet of the Cronos. After the mainnet launch, the price of CRO tokens, the native token of crypto.com, surged by more than 110%.