Crypto.Com is betting on sports to extend its business model. On Monday, it announced a major investment to remodel the Crypto.com Arena.
Regardless of multiple cryptocurrency companies going into bankruptcy amid crypto winter, CryptoCom is still betting on extending its brand despite laying off an important part of its workforce.
Just yesterday, AEG Sports and Crypto.com revealed a nine-figure investment plan to fully renovate the Crypto.com Arena and Xbox Plaza establishments at LA LIVE.
As per the official information, the renovation is anticipated to last two years, with the arena fully functional throughout all phases.
Crypto.Com & AEG Expect to Construct a State-of-the-Art Stadium
AEG President and CEO Dan Beckerman remarked his satisfaction in the role Crypto.com Arena has played since its opening. The CEO mentions that since its opening, they have invested hundreds of millions of dollars to make sure that the venue remains state-of-the-art, while invariably creating a world-class event and fan experience. The investment in these renovations exhibits the ongoing commitment of AEG, the Lakers, and the Kings to deliver the best experiences for all of their fans, partners, artists, and teams.
Lee Zeidman, president of Crypto.com Arena, Microsoft Theatre, and LA LIVE, conveyed that the renovations will furnish new ways to experience their favorite sports and music events. He also remarked that this project will fetch new business opportunities for the team.
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The New Arena Will Keep VIP Members in Mind
The arena will include a multi-level Tunnel Club that will feature new hospitality spaces and an exclusive viewing experience for special members and VIP guests.
Further, they will also expand the Chairman’s Club to present enhanced experiences and benefits to VIP guests in Crypto.com’s most private and coveted location. The exchange also desires to install two major LED screens and visible ribbon boards on the upper and lower bowl seats to offer better visibility and advertising to fans.
The project will be overseen by the stadium’s original architects, Dan Meis and Ron Turner, who have spent the past 20 years improving sports stadiums.
Crypto.com’s steps to bridge the gap between the cryptocurrency industry and the sports industry are long-standing. Its business actions have earned it an important place in high-profile events in various sports domains such as Formula 1, Baseball, Football, Basketball, and even e-sports.
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