Crypto's push into the public realm has been a very impressive feat and honestly caught me off guard with how thorough and expansive it has been. It really has been an amazing thing and something that is very positive for the crypto world overall! While crypto has been taking a more and more public stance something that I did not see happening was the amount of money crypto companies and organizations were willing to pay to do it. With that December 23rd marked the end of an era in LA.
On December 23rd the LA Lakers held their last game in the Staples Center. Starting December 25th, after 22 years of being called the Staples Center and holding events ranging from concerts and championships to funerals for icons, the Staples Center will become Crypto.com Arena! Now, what is crazy to me is that the Staples Center naming rights had been under contract for 20 years for a cost of $116 million USD and now naming the Arena Crypto.com will cost a whopping $700 million USD for a 20-year term as well!
Now this name change isn't without pushback from citizens of LA who have been very vocal against the change but it is still going through anyways. This is huge for the crypto space to have such an important and well-known organization and stadium/arena renamed for a crypto-based product! Gaining public exposure and creating new community ties will be huge to further this adaptation which Crypto.com is paying a lot of money for! It will be really interesting to see if they are able to link this naming to increased traffic for their website and really their usage overall!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also follow me on Twitter @Cje95_
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