The Staples Centre in Los Angeles is to be renamed the Crypto.com Arena from December 25^th.

This comes after the Singapore based company became a major sponsor of the sporting venue, signing the 20-year naming rights deal.

Crypto.com’s chief executive, Kris Marszalek, said: “In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream.”

Crypto.com paid over USD$700 million (AUD$963 million) for the rights, which makes it the largest naming deal in sporting history.

The LA Lakers will be the first team to play under the new stadium logo hosting the Brooklyn Nets.

Despite the logo change on December 25^th, full changeover of signage isn’t expected to be complete until June 2022.

“This is just such a brilliant move from the guys at AEG, because the next decade belongs to crypto and this positions L.A. and this particular venue right at the centre of it.” Said Marszalek.

For more information on Crypto popularity in sport, see The Rise of Crypto Partnerships in Sport, exclusive to Ministry of Sport.

The partnership with AEG and Crypto.com could lead to further deals, including the potential integration of cryptocurrency payments both in the arena and online.

Under the new name the Staples Centre will see a 1.05km space dedicated to Crypto.com, with crypto themed interactive experiences for music and sport fans.

AEG CEO, Dan Beckerman, said: “It’s a bit of a match made in heaven, when we think about the type of brands that we like to partner with.”

“Crypto.com is looking for the most unique branding platform to make a statement and drive adoption, and we’re looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events.” He said.