The inevitable progression in the crypto space appears to be imperative. The contemporary evolution in space has led to a revolution in the DeFi protocols, NFTs, and Metaverse. Yet despite radical developments across the space, no protocol has managed to clutch the larger mainstream audience.
Crypto.com has officially confirmed its entry into a mainstream sport. Thereby giving a tough nut to crack and glitter for the virtual gaming platforms. Post the recent announcement, CRO price has eclipsed the market cap of virtual gaming tokens such as Axie Infinity, The Sandbox, Enjin coin, Decentraland, and many more.
The Staples Cente is one of the most popular sports arenas located in Los Angeles, the USA. The center has been home to four specialist sports franchises, also to several award ceremonies and concerts throughout the year. Hence, in order to gain significance and endorsement from the larger mainstream audience from sports, Crypto.com has outlined a plan of sponsoring $700 million to rename the Staples Center.
The move would give Crypto.com lucrative exposure in the non-crypto space, thereby infusing its brand into mainstream sports eventually. The name change has been scheduled to go official on Christmas this year. In addition, the platform has recently begun a $100 million worth marketing campaign with Hollywood actor Matt Damon. However, the token is expected to benefit from the campaign and the approaching Staples name change.
A crypto metric platform Santiment further highlights the same. The chart shown by the platform indicates CRO Price’s major breakout during the last weekend, followed by a solid rise in the trading volume. Yet the price still holds the momentum with a 440.63% surge in the trading volume round the clock.
The on-chain metric platform further confirms the parabolic of the asset was followed by the $700 million sponsorship to the naming rights of Staples arena. However, basketball fans of the state have clearly put Crypto.com on the mainstream map.
Collectively, post the announcement the CRO price has claimed more than 200% gains. The token might lookout for support around $0.65, before taking out another leg up. As rename has been scheduled for December 25th, the asset could make its headway to the top 10.