Crypto.Com buys the rights for the name of Los Angeles Lakers Arena!

Yes, the title says it all by itself! Crypto.com Exchange has bought the rights to the name of the Los Angeles Lakers Basketball Arena. Starting from the Day after Christmas, the name will change from Staples Center to Crypto.Com Arena!

This is a sign of the landmark marketing campaign that Crypto.com is undertaking. You do not put all that money into marketing in order to lose it, but instead to attract new costumers and to increase your brand recognition. Steadily this has been happening and it is reflected by a number of other partnership's that Crypto.com has in place.

The news that broke first yesterday, brought considerable gains to the Crypto.com token that now is trading at more than $0.5 and the with a potential for a more upward trend.

In detail, the deal for the naming rights will have a duration of 20 years and will be worth around $ 700,000,000. This is the biggest naming rights / marketing deal by a Crypto company to date. The Arena is not just the home-turf of Los Angeles Lakers but also of the NHL team from L.A, the Kings.

This latest agreement adds up to a number of important agreements that Crypto.com has signed with different types of sport organizations and team. Among them, Crypto.com has sponsorship agreements with the UFC. The French football powerhouse Paris St. Germain, one of the favorites to win this year's Champions League having Messi, Neymar and Mbappe in its lineup. Formula 1 where the Crypto.com logo is printed in the racing cars and race banners. The Philadelphia 76ers which are another traditional force in the NBA, and etc.

Come next year Lebron James, Anthony Davis and the rest of Lakers stars will be playing in an Arena adorned with the Crypto.com logo. In terms of optics, this brings additional exposure for Cryptocurrencies in a larger US and global fanbase, as the Lakers have been historically one of the most successful teams in NBA with a strong international reach.

One thing has been certain in the past year, that Cryptocurrency companies and Exchange have been competing with one another for more exposure through different sponsorships in the sports, including Football, Basketball, UFC, Formula 1, among others. Binance, Crypto.com, Coinbase, FXT Exchange, and others have been racing to secure agreements with leading sports organizations having their name featured in Stadiums, banners, and jerseys.

Let's see what the future holds, but I am already excited and confident about it!