When Crypto.com announced its partnership with the Los Angeles Lakers, the reverberations stretched far beyond the hardwood floors of the NBA. This landmark agreement, revealed in late 2021, signified a new era in the crossover between cryptocurrency and professional sports. At its core, the partnership centered on the Staples Center undergoing a dramatic transformation, to be known going forward as Crypto.com Arena. This signaled not just a name change but also a change in how sports franchises build relationships with the fastest-growing sectors in technology and finance.
Origins of the Partnership
The foundation of this partnership was rooted in strategic timing and ambition. The Lakers, long-time tenants and marquee attraction of the downtown Los Angeles arena, had witnessed their home’s naming rights agreement draw to a close after two decades. With the original naming deal expiring, the venue’s operators and the Lakers saw an opportunity to redefine their home’s image while reinforcing the team’s brand globally.
Crypto.com, meanwhile, was on a rapid rise within the digital currency marketplace, intent on expanding its recognition in the U.S. Through active outreach and negotiations with AEG, which owns and operates the venue, an agreement began to take shape. Talks centered on a vision where digital finance would be interwoven with the high-profile entertainment and sports that the venue was known for. Eventually, the arrangement was publicly revealed, drawing international attention to both the Lakers and Crypto.com.
Crypto.com Arena Unveiled
This partnership came with a record-setting value, widely described as the richest naming rights deal in sports history at the time. From Christmas Day 2021 forward, the venue was renamed Crypto.com Arena, a shift first spotlighted during a major holiday Lakers matchup. Crypto.com became not only a naming partner for the arena but also secured its position as the official cryptocurrency partner of the Lakers themselves.
Across the Lakers’ storied history, no singular commercial deal had previously sought to integrate the team’s platform with such a cutting-edge technology sector. Fans saw visible changes both inside and outside the arena. The familiar lettering and logos gave way to bold new branding, and the partnership introduced an interactive Crypto.com experience for fans entering the arena. As a constant home to high-octane basketball and entertainment, the Lakers’ home court now doubled as a proving ground for new financial frontiers.
Cryptocurrency, NFTs, and the Mainstreaming of Sports Sponsorship
The partnership between Crypto.com and the Lakers is part of a growing trend in the sports industry where cryptocurrency companies and NFT collectibles have rapidly gained mainstream acceptance and marketing power. In just a few seasons, crypto brands such as OpenSea, 88Miner, and CoinChapter have evolved from niche sponsors into leading forces at major sports events.
Sports franchises represent a vital opportunity for cryptocurrency companies eager to communicate legitimacy and appeal to broad audiences. New tech brands can introduce themselves to millions in a unique, impactful context by aligning with trusted, established names like the Lakers. The result is a mutually beneficial relationship—cryptocurrency brands gain recognition and credibility, and sports organizations tap into a fast-growing sector with novel ways to engage with fans.
NFTs, or non-fungible tokens, have also established themselves as a new form of collectible and engagement for fans. Various teams have launched their NFTs, offering fans the chance to own a piece of unique digital memorabilia, participate in exclusive experiences, or even access limited events. These digital assets represent another layer of involvement available to fans, while providing new streams of revenue and engagement for teams like the Lakers.
The continued blending of sports, cryptocurrency, and NFTs highlights how franchises reinvent the fan experience. By embracing technology-based sponsorships and digital collectibles, teams can strengthen their bond with young, tech-savvy supporters and create immersive experiences beyond the game.
Value for All Stakeholders
The value embedded in this partnership reaches far beyond the financial commitment. For Crypto.com, the relationship means direct, repeated exposure to one of sports’ most passionate and diverse fan bases. The Lakers’ global profile ensures that Crypto.com’s brand will be visible across national broadcasts, merchandise, and every marquee matchup hosted at the arena.
The deal secures a significant, long-term revenue stream for the Lakers and the arena’s ownership. It also places the team and venue at the cutting edge of sports business innovation, opening the door for enhanced fan engagement through digital technology. There is potential for new experiences and events, and the possible integration of digital payment or rewards systems. The association can draw interest from outside traditional sports or tech circles and build a new generation of digitally native sports fans.
A Franchise Leading Change
The Los Angeles Lakers, with their global reach and history of innovation, stand out as a symbolic partner for the dynamic world of cryptocurrency and digital finance. Renaming their legendary home is a visible representation of how professional sports are changing, integrating next-generation business partners, and offering new ways for fans to connect with their favorite teams. As this model evolves, the Lakers’ partnership with Crypto.com is a key example of how sports and technology are shaping how we experience games and fandom in the digital age.
