The Staples Center, home of the Lakers and other professional sports teams would rebrand as Crypto.com Arena, named after a cryptocurrency platform based in Singapore. The change will be made on Christmas Day.
Crypto.com is a trading and services platform for exchanging Bitcoin, Ethereum, Dogecoin and other virtual currencies. Crypto.com struck the 20-year naming-rights agreement with A.E.G.
The arena has been named after the office supply company based in Massachusetts since it opened in 1999. The Staples Centre opened as the home venue for a Lakers team dominated by Kobe Bryant and Shaquille O’Neal, who then led it to three consecutive championships. Last year it hosted a memorial for Mr. Bryant and his 13-year-old daughter who died along with seven other people in a helicopter crash.
Crypto.com Arena is not the only stadium named after a cryptocurrency brand. FTX a cryptocurrency exchange based in Hong Kong, signed a deal with the Miami Heat and the local authorities worth $135 million over 19 years to rebrand the arena where the NBA team plays.
Stadium names more recently have been dominated by companies in the banking, telecom and other booming sectors. Citi Field, named for the financial services firm Citigroup, replaced New York’s Shea Stadium in 2009, for instance. T-Mobile Arena opened in Las Vegas in 2016.
