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The NBA team, the Los Angeles Lakers, and the Staples Center located in Downtown LA, will change their name. Surprisingly, the new name is Crypto.com Arena.
The Staples Center, completed in 1999, was signed by Staples, Inc. for a $100 million naming contract for 20 years. However, it is Crypto.com, a cryptocurrency exchange founded in 2016 and based in Singapore, that will occupy the naming rights for the next 20 years. He is said to have spent more than $7 million to acquire the naming rights. It is the largest ever in sports-related naming rights.
There are various regulations and criticisms about the cryptocurrency business, but it is true that cryptocurrency is growing in scale with high topicality, such as Coinbase being listed. Of course, since the Staples Center has been using this name since its completion in 1999, there are voices that say it is embarrassing among locals and players working in their home base. Anyway, it is clear that the name change from office supplies to cryptocurrency itself reflects the changing times.
It is Christmas on December 25th this year that this indoor stadium announces a new logo as Critto.com Arena. It is said that all signs in the arena will be changed by June next year. Related information can be found here.
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