Crypto.com still amazes the market with a agreement in the world of american sport which is simply unbelievable, both for the teams involved and for the sum that allowed the agreement to go through.
The group, which is fast becoming one of the most important in the world of cryptocurrencies, in fact closed the agreement to rename it Staples Center from Los Angeles, one of the most iconic buildings in the sector, in Crypto.com Arena. This is not the first time the group has made an effort to do this – and it may not be the last.
New deal: one of the greatest in the history of sport
An agreement for 700 million dollars include the right to naming of the structure for the next 20 years.
A long-term commitment, for one of the venue most important sports in the world, which hosts the home matches of the Los Angeles Lakers and Los Angeles Kings. The agreement would also provide for the transition to official partner of the aforementioned teams. The rights, in a passage that is among the most expensive in the history of sport, were held by AEG, which thus balances and monetizes rights of naming among the most expensive in the history of sport.
In reality, movements in this sense – even if never as big as the one we tell you today – have become quite common in the world of cryptocurrencies. Those who follow Italian football know very well that three of the main teams in the country have a sponsor linked to cryptocurrencies on their shirts.
Chiliz moreover, after having conquered all the main teams of European football, NBA, as well as in the NFL. This is also a sign of the extraordinary strength of compartment, which is in possession of large liquidity that it can spend on sponsorships And new partnerships that groups in the more traditional economic sectors cannot afford.
Will CRO be affected?
Yup, CRO has already had a leap forward following the dissemination of this news, returning around the quota $ 0.45. Great news for a token which in this market cycle is confirming itself as one of the most strong, also driven by the large commercial operations of Crypto.com.
Group that, we remember, has also recently started an advertising partner with Matt Damon – and that in all likelihood it will continue to exploit the large liquidity it owns to improve its visibility. Visibility that until now has spilled almost directly on the price of CRO – cryptocurrency which is also part of the our investment portfolio and on which we continue to have very high expectations.