BlocksInform
As the crypto winter threatens to drive several cryptocurrency companies into bankruptcy, CryptoCom is still betting on the expansion of its brand in spite of recently laying off a significant portion of its staff.
On August 22, AEG Sports and CRYPTO.COM announced a nine-digit investment plan to completely upgrade the Crypto.com arena and Xbox Plaza installations at LA LIVE.
Per official information, the renovation is expected to last two years, with the arena fully operational throughout all phases.
CryptoCom and AEG Expect to Build a State-of-the-Art Stadium
AEG President and CEO Dan Beckerman remarked his pride in the role Crypto.com Arena has played since its opening, saying that’s why the two companies continue to invest hundreds of millions of dollars to ensure the arena itself is considered a state-of-the-art stadium.
"Since its opening, we have invested hundreds of millions of dollars to make sure the venue remains at the cutting edge of technology, while creating a world-class event and fan experience. The investment in these renovations demonstrates the ongoing commitment of AEG, the Lakers and the Kings to deliver the best experiences for all of our fans, partners, artists and teams.”
Lee Zeidman, president of Crypto.com Arena, Microsoft Theatre, and LA LIVE, said the renovations will provide new ways to experience their favorite sports and music events. He also noted that there will be new business opportunities for the team as a result of this project.
In addition to creating new options and multi-level reception spaces in the arena, Virtually all of crypto.com's public spaces and backstage will be included in this transformation project. Once the extensive renovations are complete, guests, players and fans of the Kings, Lakers and Sparks, as well as artists who will be visiting Crypto.com and L.A. LIVE will all experience new offerings."
The New Cypto.Com Arena will be thinking about VIP members.
The arena will be equipped with a multi-level Tunnel Club which will include new reception areas and an exclusive viewing experience for select VIP members and guests.
They will also expand the President's Club to provide enhanced experiences and benefits to VIP guests in the most private and coveted location of Crypto.com. The purse also expects to install two main LED screens and visible tape panels on the top and bottom bowl seats to provide better visibility and publicity to the fans.
The project will be overseen by the stadium's first architects, Dan Meis and Ron Turner, who have spent the past 20 years working on stadium improvements.
Crypto.com has a long history of working to bridge the gap between the cryptocurrency industry and the sport industry. Its business moves have earned it an important place in high-profile events in various sports disciplines such as Baseball, Formula 1, Soccer, Basketball and even e-sports.
And even though the crypto winter is hitting hard, the exchange has also scored a few victories, with regulatory approvals in UK, South Korea, Italy, Cyprus, Singapore and Dubai to name a few countries.
