Staples Center is getting a new name for Christmas: Crypto.com Arena

Los Angeles' iconic Staples Center — home of the Los Angeles Lakers, Clippers, Sparks and Kings — is getting a new name: Crypto.com Arena. The facility announced the news on Wednesday, saying the new name will go into effect on December 25. 

The arena's new name is part of what officials are calling a "historic" 20-year naming rights agreement between AEG and Crypto.com. The agreement, according to a press release, also dubs Crypto.com the "official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings." 

The partnership "underscores the rapidly growing influence and widespread adoption of Crypto.com's cryptocurrency platform and NFT marketplace worldwide," the release says.