Crypto trading just got a whole lot more mainstream. Crypto giant Crypto.com is taking over California’s most famous arena, the Staples Center. The Crypto.com website has officially bought out the rights to the name Staples Center, and is changing it to Crypto.com arena. Sources told CNBC that Crypto.com spent 700 million dollars for a 20 year lease deal for the re-naming rights of this monumental arena. This purchase will impact the crypto world in many different ways. First of all Crypto.com is the first crypto website to release visa cards for crypto. Even though crypto currency can only be bought and traded online, this physical card which is partnered with visa allows consumers to buy any product like a normal credit card, but instead of using cash you use money from your crypto account. The transition from Staples center to crypto.com arena will take place Christmas day this year. Consumers can not predict exactly how much more the name change will effect the price of their virtual wallet but what we do know is that with other sporting companies backing crypto.com such as the UFC and NBA we can be sure that their will be a very nice increases in price of their crypto coin. Now that Crypto.com owns the staple center, you will 100% see lots of ads and promotion for not only Crypto.com but Crypto as a whole. Websites such as Binance and Newton have commercials constantly running during sports events has already increased the cost of crypto. On the same topic Crypto.com will definitely be branding their name on the actual courts and the facility. Not only will huge neon signs saying crypto.com be shown outside of the arena for all of Los Angles to see, it will also be posted all over the courts. Don’t think that this new way of marketing is brand new, its not… The Philadelphia 76ers have also partnered with crypto.com as their logo sponsors. You can see the logo on the courts of the wells Fargo center as well as their logo on the right side of their jerseys.
picture courtesy of LA times.com and ABCnews.go.com
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