You may have tried to ignore cryptocurrency. But now the name is set to take over one of the most iconic sports stadiums in the US.
On Tuesday night, Staples Centers in Los Angeles announced it’s renaming itself to Crypto.com Arena on Christmas Day, Dec. 25.
AEG, which owns the stadium, struck a 20-year-naming rights agreement with the virtual currency trading app Crypto.com for the rebrand.
It’s unclear much Crypto.com paid to secure the naming rights. But according to the announcement, the deal “underscores the rapidly growing influence and widespread adoption of Crypto.com’s cryptocurrency platform and NFT marketplace worldwide,” at a time when the value for virtual currencies has been booming.
The name change will also give cryptocurrencies more exposure to the public. Staples Center is best known for hosting games for the NBA’s Los Angeles Lakers and NHL’s Los Angeles Kings. So if you’re a fan of either team, expect to hear the name Crypto.com Arena over and over again in the coming months and years.
AEG adds: “This agreement also makes Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.”
To no one’s surprise, the name change has irked NBA fans in Los Angeles. Some are already calling for the stadium to be officially renamed Kobe Bryant Stadium in honor of the five-time champion Lakers shooting guard, who tragically died in a helicopter accident last year. Others are vowing to call the arena Staples Center forever.
AEG plans on officially unveiling the new logo and other branding assets when the Los Angeles Lakers host the Brooklyn Nets on Dec. 25. The stadium then plans on replacing all the Staples Center signage with the new logos by June 2022.
