The iconic Los Angeles Lakers stadium made a deal with cryptocurrency exchange Crypto.com. This contract will change the name of the arena where teams from the NBA, WNBA and NHL play; will be renamed Staples Center, to Crypto.com Arena. It should be noted that the agreement made by the marketing strategists of Crypto.com was made for a total of 700 million US dollars, and will have a total duration of 20 years.
Since the news was released yesterday, the price of the exchange’s native token, CRO, has soared more than 30% and posted a new all-time high; reaching 0.57 cents.
From December 25 of this year (2021), until surely December 25, 2041, the playground will have the name of Crypto.com. In addition, on December 25 there will be a very important Christmas event to celebrate the contract that was made by both parties.
The statements from the CEO of Crypto.com during the event that pushed the CRO token higher were:
It should be noted that the space in which the naming rights were acquired is not only an iconic place where the Los Angeles Lekers play since 1999. It has also been an area of important events, concerts, and the home or main headquarters of multiple teams more, as they are:
- The NBA Clippers.
- Los Angeles Sparks of the WNBA.
- And the NHL Kings.
Therefore, this may be one of the best investments the exchange platform has ever made. For if the CRO price doesn’t skyrocket with a strategy of this scale, what else could?