Crypto Arena: How Cryptocurrencies Made Their Way to the Sports Industry

Crypto.com Arena is a prime example of how cryptocurrencies made their way to the mainstream. Crypto businesses have long been present in sports through partnerships, sponsorships, and other means. However, the rebranding of one of the most popular venues in the industry to honor digital assets has been an unprecedented milestone for driving crypto awareness. Let's take a closer look at how it happened and why Crypto.com Arena is so important for the crypto industry.

What is Crypto.com Arena?

Formerly known as Staples Center, Crypto.com Arena has been a central stage for Los Angeles entertainment since its opening in 1999. Even though not the biggest, it is one of the most recognized sports centers in the world, attracting millions of fans and visitors each year. Unlike many other stadiums, Crypto.com Arena is a multi-purpose venue hosting not only major sporting events but also concerts and live shows. This iconic center is also home to the Los Angeles Kings of the National Hockey League (NHL) and the Los Angeles Lakers of the National Basketball Association (NBA).

Where is Crypto.com Arena located, and how can you get there?

The Crypto.com Arena is located at 1111 S. Figueroa Street in the heart of downtown Los Angeles, California. It is adjacent to L.A. LIVE, a live entertainment complex in the South Park District of Downtown Los Angeles, and the Los Angeles Convention Center.

There are several ways to get to Crypto.com Arena, depending on whether you're driving or using public transportation.

If you're coming from the 110 Freeway Southbound, exit at Olympic Blvd., turn right at the end of the ramp (Blaine Street), and then right again on Olympic Blvd. Follow Olympic Blvd. until you reach Figueroa Street.

If you're coming from the 110 Freeway Northbound, follow the same directions, turning right onto Figueroa Street. To avoid traffic jams, check for real-time traffic updates.

You can also reach Crypto.com Arena by public transport.

If you go by subway, you can take the A, E, or J Line and exit at Pico Station. This will bring you close to Crypto.com Arena and the L.A. Convention Center. To check schedules and plan your trip, you can use Google Maps, Apple Maps, the Transit app, or Metro.net.

If you're in the Santa Monica area, you can take the tram from Downtown Santa Monica Station to Pico Station Metro E Line. Alternatively, you can take the Line 33 bus from 2nd/Broadway to Venice/Figueroa. Taxis are also an option.

A brief history of the Crypto.com Arena

Before becoming a go-to place for sports and entertainment, the Crypto.com Arena – Staples Center at that time – began as a vision to revitalize downtown Los Angeles. Stunningly, the concept was at a hair's breadth from failing.

In 1995, real estate developer Edward P. Roski Jr. and Philip Anschutz, the owner of AEG (Anschutz Entertainment Group), joined forces to acquire Los Angeles Kings. In the following year, they started looking for a home for the hockey team.

Steve Soboroff, the president of the L.A. Recreation at that time, suggested a convenient location for the new arena: downtown Los Angeles, next to the Los Angeles Convention Center. Kings owners jumped at the idea, unaware of the challenges ahead.

Upon closer inspection, the area didn't seem like the best fit, with muddy terrain, a lot of homeless people, and unexpected opposition from several council members.

Securing funding and navigating complex negotiations took two years. Different parties, including the city, developers, and team owners, had to agree on terms for land use, construction costs, and revenue sharing.

There were also protests from residents and community groups who voiced concerns about the project. Objections were related to relocations, potential traffic congestion, noise pollution, and the impact on the surrounding neighborhood. Negotiations and addressing these concerns added to the development timeline.

Ultimately, the developers and city leaders managed to find a common ground. The deal was struck in 1997, and construction could follow. The future Crypto.com Arena was unveiled on October 17, 1999, with a Bruce Springsteen concert inaugurating its opening.

The investment was financed with private means and cost $375 million. The naming rights to the arena went to Staples, Inc., one of the venue's corporate sponsors.

Overall, the future Crypto.com Arena started a renaissance in downtown Los Angeles. The area became a hip place, attracting thousands of new visitors, including people whose only previous reason to go there was work. According to Carol Schatz, the ex-president of the Central City Association, the Crypto.com Arena project led to a transformation for downtown.

The local population surged from 18,000 to more than 50,000 and spurred a building boom bringing in money and business. Within three years from Crypto.com Arena's inception, the downtown area experienced an influx of $16 billion in investments.

Crypto.com Arena – a multi-sport haven

In the next decade, Crypto.com Arena became one of L.A.'s major brands as a multi-sport haven, the home court for both the Los Angeles Lakers and Los Angeles Clippers, along with the NHL's Kings, and an entertainment center, hosting one event after another, including games, concerts, and more.

The arena also welcomed the WNBA's Los Angeles Sparks and the now-defunct Arena Football League's Los Angeles Avengers. This variety of teams ensured the arena was bustling with activity year-round.

Crypto.com Arena hasn't just been about hosting games and events. It has witnessed historic moments. The Lakers celebrated NBA championships in 2000, 2001, 2002, 2009, and 2010 within its walls. The Kings brought home the Stanley Cup in 2012, and the Sparks were crowned WNBA champions in 2001, 2002, and 2016. These victories solidified the arena's reputation as a stage for champions.

Crypto.com Arena – L.A.'s go-to entertainment venue

Crypto.com Arena's popularity extends far beyond sports. It became a major concert venue, hosting iconic acts across genres. From pop stars like Michael Jackson, Justin Timberlake, and Beyoncé to legendary artists like The Rolling Stones, Paul McCartney, and country music star Garth Brooks, the arena catered to diverse musical tastes.

There's more. Crypto.com Arena provided a welcoming space for a diverse range of events comprising family-friendly spectaculars like Disney on Ice, prestigious award shows, cultural celebrations, global esports tournaments, and political rallies. It's worth stressing that the venue has been the most frequent host of the Grammy Awards ceremony since its inception.

The great rebranding: from Staples Center to Crypto.com Arena

In late 2021, a new chapter began in the arena's history. AEG, the arena's owner, signed off a massive naming rights contract with the cryptocurrency platform Crypto.com. The exchange agreed to shell out $700 million over 20 years. According to available data, it was the biggest naming rights deal in U.S. sports history.

Staples, the office supply company that held the naming rights since the arena's 1999 opening, apparently decided that the expiring deal was not strategically valuable anymore or wasn't able to match Crypto.com's offer. The arena officially transitioned to its new name on December 25, 2021, aligning with the NBA's annual Christmas showcase featuring the Los Angeles Lakers. This high-profile event ensured maximum exposure for the new name.

What is Crypto Arena's capacity?

The Crypto.com Arena has a total capacity of approximately 20,000 – not bad but hardly outstanding if you consider that the world's biggest sports venue, Narendra Modi Stadium in Ahmedabad, Gujarat, India, can accommodate 132,000 people.

Crypto.com Arena's capacity differs slightly for various events. It can seat up to 19,060 fans for basketball games, 18,145 for ice hockey, and around 20,000 for concerts or other sporting events. The arena covers 950,000 square feet of total space and stands 150 feet tall.

The majority of seating (over two-thirds of the arena's capacity), includes 2,500 club seats, is located in the lower bowl. Additionally, there are 160 luxury suites – with 15 of them designated as event suites – distributed across three levels between the lower and upper bowls, providing an exclusive vantage point.

Where can I buy Crypto Arena tickets?

You can buy tickets for Crypto.com Arena events either online or on-premises. If you prefer the traditional way, simply head to the Crypto.com Arena Box Office – it's adjacent to Star Plaza at the arena itself, on Chick Hearn Court, between Georgia and Figueroa. If you want to contact the box office before arrival, you can call them at (213) 742-7340.

The box office is open every Tuesday from 12 p.m. to 4 p.m. for walk-up sales. On event days, the box office windows open 3 hours before the event starts. However, the office doesn't hand out printed tickets – all of them are electronic. You can access them through your mobile device.

If you prefer to buy tickets online, you can do it directly through the official Crypto.com Arena website. Simply visit the specific event page and follow the link to purchase tickets. You can pay by American Express, Mastercard, Discover, and Visa. For most ticket offers you can also use PayPal. Some pre-sales though may restrict options to specific payment types. For more up-to-date information, check Crypto.com Arena's website.

Crypto Arena parking options

Crypto.com Arena offers 3,300 parking spaces in its own lots. Additionally, over 10,000 parking spaces are available within walking distance in privately owned and operated lots, offering affordable parking options, although rates and hours of operation vary.

Crypto.com Arena provides designated parking spaces for guests with disabilities, including van-accessible spaces, for vehicles with a current state-issued disability placard or license plate. For specific locations, check the arena's parking map. No reservations apply – parking is available on a first-come, first-served basis. For details unavailable on the website, call arena's parking services at (213) 765-6815.

Crypto Arena bag and camera policy

Crypto.com Arena has a rigorous bag policy. It doesn't allow bags, backpacks, purses, totes, clear bags, fanny packs, and camera bags. Exceptions include:

- wallets and small clutches smaller than 5" x 9" x 1" (subject to thorough inspection).

- medical and parental bags smaller than 14" x 14" x 6" (required to go through an X-Ray security screening).

Non-professional, non-flash still photography is allowed at most events but may be prohibited at the request of the artist, performer, or team. Video recording devices, audio recording devices, GoPro cameras, monopods, tripods, selfie sticks, and cameras with telephoto or interchangeable lenses are not allowed inside.