CryptoCom announced a big investment recently that will be used to overhaul its stadium. This comes despite the company recently laying off a significant portion of its workers.

It would appear that CryptoCom is still counting on developing its brand as the crypto winter threatens to push many cryptocurrency enterprises into bankruptcy.

AEG Sports and Crypto.com announced a nine-figure investment plan for the Crypto.com Arena and Xbox Plaza facilities at LA LIVE on August 22.

According to official estimates, the reconstruction will take two years, with the arena remaining fully functioning throughout.

CryptoCom & AEG To Build A State Of The Art Stadium

AEG President and CEO Dan Beckerman expressed delight in the role Crypto.com Arena has played since its inception, explaining that the two organizations continue to invest hundreds of millions of dollars to guarantee the arena itself is regarded a cutting-edge venue.

“Since its opening, we have invested hundreds of millions of dollars to ensure that the venue remains state-of-the-art, while consistently 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.”

The upgrades, according to Lee Zeidman, president of Crypto.com Arena, Microsoft Theatre, and LA LIVE, will give new opportunities for fans to enjoy their favorite sports and music events. He also stated that this endeavor will provide the team with additional commercial options.

“In addition to creating new and refreshed hospitality options and spaces on multiple levels throughout the arena, nearly all public and backstage areas of Crypto.com Arena will be included in this transformative project. When the wide-ranging renovations are completed, guests, players and fans of the Kings, Lakers and Sparks, and performers coming to Crypto.com Arena and L.A. LIVE will all experience new offerings.”

New Crypto.Com Arena Will Be Focused On VIP Members As Well

CryptoCom announced a big investment not only to overhaul its stadium itself but for the VIP members that it has.

For elite members and VIP guests, the arena will offer a multi-level Tunnel Club with “new hospitality areas and an unique viewing experience.”

In addition, the Chairman’s Club will be expanded to provide greater experiences and incentives to VIP guests in Crypto.com’s most secret and desirable venue. In addition, the exchange plans to construct two large LED displays and prominent ribbon boards on the upper and lower bowl seats to improve visibility and advertising to fans.

Dan Meis and Ron Turner, the stadium’s original architects, who have spent the last 20 years upgrading sports venues, will oversee the project.

Crypto.com has long worked to bridge the gap between the cryptocurrency and sports industries. Its business actions have gained it a prominent role in high-profile sporting events like Baseball, Formula 1, Soccer, Basketball, and even e-sports.

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