As the cryptocurrency winter threatens to bankrupt more cryptocurrency companies, CryptoCom is still betting on expanding its brand despite having recently laid off a major portion of its workforce.
On August 22, AEG Sports and Crypto.com announced a nine-figure investment plan to completely renovate the Crypto.com Arena and Xbox Plaza facilities at LA LIVE.
According to official information, the restructuring is expected to last two years, with the arena fully operational at all stages.
CryptoCom and AEG expect to build a state-of-the-art stadium
AEG President and CEO Dan Beckerman remarked on his pride in the role Crypto.com Arena has played since its opening, saying that is why the two companies continue to invest hundreds of millions of dollars to ensure that the arena itself is considered a state-of-the-art stadium.
“Since its opening, we have invested hundreds of millions of dollars to ensure the venue remains state-of-the-art, consistently creating a world-class event and fan experience. The investment in these renovations demonstrates the continued commitment of AEG, the Lakers and the Kings to offer the best experiences to all our fans, partners, artists and teams. “
Lee Zeidman, president of Crypto.com Arena, Microsoft Theater and LA LIVE, said the renovations will provide new ways to experience their favorite sporting and music events. He also noted that this project will bring new business opportunities to the team.
“In addition to creating new and refurbished hospitality options and multi-level spaces throughout the arena, nearly all public and behind-the-scenes areas of Crypto.com Arena will be included in this transformative project. When the extensive renovations are completed. , guests, players and fans of Kings, Lakers and Sparks, and artists who come to Crypto.com Arena and LA LIVE will all experience new offerings.
The new Cypto.Com Arena will have VIP members in mind
The arena will have a multi-tiered Tunnel Club that will feature “new hospitality spaces and an exclusive viewing experience” for select members and VIP guests.
Additionally, they will expand the Chairman’s Club to offer enhanced experiences and benefits to VIP guests in “Crypto.com’s most private and coveted location”. The swap also plans to install two main LED screens and visible ribbon panels on the upper and lower tub seats to provide better visibility and publicity for 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 the sports stadiums.
Crypto.com’s efforts to bridge the gap between the cryptocurrency industry and the sports industry are long standing. His commercial moves have earned him a prominent place in high-profile events in various sports disciplines such as baseball, Formula 1, football, basketball and even e-sports.
And while the cryptocurrency winter is hitting hard, the exchange has also scored a few wins, with regulatory approvals in the UK, South Korea, Italy, Cyprus, Singapore, and Dubai to name a few.
Binance Free $ 100 (exclusive): use this link to register and receive $ 100 free and 10% off commissions on Binance Futures the first month (terms).
PrimeXBT Special Offer: Use this link to register and enter the code POTATO50 to receive up to $ 7,000 on your deposits.