AEG, which owns and operates the iconic Staples Center in Los Angeles, has announced a new naming rights deal with cryptocurrency platform Cyrpto.com that will see the venue renamed Crypto.com Arena for the next 20 years. With this agreement, Crypto.com also becomes an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.
The renaming highlights the ongoing impact of cryptocurrencies and blockchain technologies on the events and entertainment sector. Whether people will actually refer to the venue as the Crypto.com Arena remains to be seen — it seems likely that many will actively avoid calling it by its new name, and some fans are already mocking it on social media — but that will be its official name as of December 25th.
The new logo and internal arena signage will also be unveiled on that date during the Los Angeles Lakers and Brooklyn Nets game, while external signage is slated to be replaced by June 2022. The LA venue is one of the most well-known in the world, hosting over 240 major events each year with a total of more than 4 million attendees.
“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,” said Kris Marszalek, Crypto.com Co-Founder and CEO, in a statement. “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.”
Brand activation opportunities for Crypto.com will include a 3,300 square-foot activation space at the building’s entrance and dedicated activation areas throughout the arena and the L.A. LIVE campus — in addition to premium branding and signage around the facility.
Todd Goldstein, Chief Revenue Officer of AEG, added: “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 as well as the incredible legacy of this arena for decades to come.”