A $700 Million Marketing Campaign
Over the past week we have seen immense strides in the digital currency/cryptocurrency world. With the acquisition of naming rights to one of the most historic stadiums. Crypto.com paid more than $700 million to get the naming rights to what was the Staples Center, which is currently the home to the Lakers, Clippers, Kings, and Sparks. The deal was initiated by the Singapore Cryptocurrency Exchange and AEG. Although this does come as a surprise, Crypto.com also has deals with the UFC, Formula 1 Racing, The Philadelphia 76ers, and Montreal Canadiens. As well as top leagues in Europe such as the Italian Serie A and Paris Saint-Germain in Ligue 1.
We know of Cars, Watches and Houses all being sold with Bitcoin but this is different, this is a way to get everyone into cryptocurrency, to modernize day to day life, modern day purchasing and a lot more.
When will this come into effect?
The arena’s new logo will debut on Christmas Day, December 25th, where the Lakers host the Brooklyn Nets. All of the Staples Center signs will be replaced by June 2022. Chief Executive Dan Beckerman told the L.A times that “It’s a bit of a match made in heaven, when we think about the type of brands that we like to partner with, Crypto.com is looking for the most unique branding platform to make a statement and drive adoption, and we’re looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events”.
As we’re all aware, there’s a few things in this life that are inevitable, and that is death, taxes and a Kreativ blog post, now we’re in a new era where we can add crypto to that list, it is going to be the normality and it is going to happen. In the future we’re certainly expecting to be using crypto currencies for events and or in everyday life; in this instance by “integrating cryptocurrency payments into the arena and online purchases may be on the horizon” Chief Executive Dan Beckerman also told the L.A times.
Is this the biggest Marketing Campaign of the future?
For all the people who aren’t invested in crypto and they’re unsure where to start Crypto.com has just given them the biggest opportunity to use their platform. With an acquisition of this magnitude it will be talked about all over the planet. Thus using this as a Marketing campaign to gain as much market share and brand awareness as possible. Considering competitors who are established like Coinbase, Binance, SoFi, and WeBull. With consumers not yet buying into this process, sooner or later they will need a platform to begin, for those who are new investing in crypto, Crypto.com will be advertising all over the stadium and as talked about, when consumers use a platform you know where they’ll turn.
However this isn’t just a huge win for digital currencies but also for digital marketing, if a digital currency comes into effect in the near future it will be interesting to see who adopts to it, or if you’re the boss whatever crypto you’d like to be paid in. This can allow for exponential growth and open you up to audiences who will know it as their way of life in the next 10-15 years.
If crypto.com can integrate crypto payment and experience into the venue, along with their advertising throughout they will be incredibly dangerous to knock off the top spot for market share. This is a huge leap for society and the normalisation of a digital currency. 2022 could be the year that these projects will gain momentum and potentially incorporate crypto currencies into everyday life.
*This is in no way financial advice on crypto currencies for the future*