New Crypto.com Plans to Bring New Life to Iconic Los Angeles Arena | Crypto

New Crypto.com Plans to Bring New Life to Iconic Los Angeles Arena

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-Crypto.com has activated another major brand promotion campaign by planning a multimillion-dollar upgrade to Crypto.com Arena in LA.
-In a Twitter post earlier this week, Crypto.com released a video of some of the changes it plans to bring to Los Angeles’ iconic Crypto.com Arena — formerly known as Staples Center.
-The deal is the most expensive naming rights purchase in U.S. sports history.
-The timing of the planned upgrades, reportedly to cost many millions of dollars, to the Crypto.com Arena may come as a surprise, given that the Crypto.com business just cut 5% of its staff in the context of the “crypto winter,” which has posed complex existential problems for many companies and platforms in the market.
-Crypto.com also has sports sponsorship deals with many well-known brands, including Aston Martin F1 team, Fnatic esports team (U.K.), Montreal Canadiens hockey team (Canada), Football League Serie A, Copa Italia Super Cup (Italy), World Hockey Championship, Formula 1 Racing, UFC Fighting Tournament, Paris Saint-Germain Club (France) and Philadelphia 76ers basketball team (U.S.).
-Not stopping there, the exchange spent up to $ 100 million on a global advertising campaign with the participation of actor Matt Damon. Needless to say, marketing is a massive component of Crypto.coms efforts to compete with other competitors, such as Binance, FTX, Bybit, etc., including through sports.

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