‘Coke Studio’ ‘fizz’ to Crypto.com Arena

Article posted by Coliseum, October 17^th, 2023

Image: Crypto.com Arena

After announcing a new multiyear renewal agreement with AEG (US), the drink industry company Coca-Cola is expanding in the crypto industry.

‘crypto.news’ stated that the renewed partnership, brokered by the AEG Global Partnerships, will bring a brand new ‘Coke Studio’ to the Crypto.com Arena in Los Angeles (US), the home of the National Basketball Association’s (NBA’s) Los Angeles Lakers and Los Angeles Clippers, the National Hockey League’s (NHL’s) Los Angeles Kings and the Women’s National Basketball Association (WNBA’s) Los Angeles Sparks.

Los Angeles (US)-based the Anschutz Entertainment Group (AEG), also known as AEG Worldwide, is an American global sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. It is the world’s largest owner of sports teams and sports events.

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Atlanta (US)-based the Coca-Cola Company is an American multinational corporation founded in 1892, best known as the producer of Coca-Cola. The drink industry company also manufactures, sells and markets other non-alcoholic beverage concentrates and syrups, and alcoholic beverages.

A cryptocurrency is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a Government or bank, to uphold or maintain it.

The ‘Coke Studio’ is a global music platform from Coca-Cola that brings together emerging artistes from around the world. The platform’s goal is to provide consumers with exclusive access to music festivals, artistes and experiences.

Los Angeles (US)-based the AEG Global Partnerships creates innovative experiences for brands to reach their desired audience at relevant moments, both in person and online. It is constantly working to deliver the best entertainment experience for millions of engaged sports and live music fans throughout the world.

The 20,000-capacity Crypto.com Arena is a multipurpose indoor arena in Downtown Los Angeles (US). It was originally known as the Staples Center. It’s the only arena in the United States that’s home to the above-mentioned four major professional sports franchises.

‘crypto.news’ further stated that the ‘Coke Studio’ will offer visitors immersive fan experiences and music-driven activations all year.

In addition, Coca-Cola will continue to be the official soft drink partner of AEG’s landmark venues worldwide, such as the 20,000-capacity The O2 Arena in London (UK), the 17,000-capacity Mercedes-Benz Arena in Berlin (Germany), the 20,300-capacity Accor Arena in Paris (France), and the 21,000-capacity Qudos Bank Arena in Sydney (Australia).

The Coca-Cola will also remain the official soft drink partner of AEG’s professional sports franchises, such as the Major League Soccer (MLS) team LA Galaxy, Los Angeles Kings, the American Hockey League (AHL) team Ontario Reign, the Deutsche Eishockey Liga team Eisbären Berlin (Germany), and Hammarby Fotboll (women’s football club from Stockholm, Sweden).

Moreover, the Coca-Cola will retain its exclusive pouring rights and sponsorship rights at AEG’s music festivals, such as the Coachella Valley Music and Arts Festival (held in California), Stagecoach Country Music Festival (held in California), New Orleans Jazz & Heritage Festival (held in Louisiana), and Firefly Music Festival (held in Delaware).

Coca-Cola, Crypto and NFT

Coca-Cola has been actively exploring the potential of blockchain technology, cryptocurrencies and non-fungible tokens (NFTs). The company has shown interest in leveraging these technologies to enhance its brand presence and engage with its global audience in new and exciting ways.

Coca-Cola has also tried to integrate blockchain technology into its supply chain management. In August 2021, Coke One North America (CONA), a tech partner of Coca-Cola bottlers in North America, adopted the blockchain technology to improve efficiency in its supply chain processes.

Additionally, Coca-Cola has ventured into accepting cryptocurrencies as a form of payment. In collaboration with Centrapay (New Zealand-based financial services provider), the company enabled Australian and New Zealand residents to purchase Coca-Cola products from vending machines using Bitcoin and other cryptocurrencies.

More recently, Coca-Cola announced the launch of a surprise NFT collection on the Polygon blockchain. While the initial offering is limited to Coca-Cola’s Serbian division, it demonstrates the company’s continued interest in exploring the potential of NFTs.

The non-fungible tokens (NFTs) are digital assets that represent unique items. They are recorded on a blockchain and can be used to prove ownership of digital or physical items. The NFTs are a type of crypto asset.

The Bitcoin is a decentralized digital currency. The Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown entity under the name Satoshi Nakamoto.

Crypto.com Arena Renovations

‘Crypto.com Arena’ stated that the Crypto.com Arena has completed Phase Two of a three-year renovation plan, officially unveiling the arena’s much-anticipated premium Tunnel and Terrace Suites. The luxury suites put fans lower and closer to the action than any of the arena’s existing 160 premium suites and provide new and exclusive access to one of the world’s most iconic and busiest arenas.

Each with a capacity of 12 occupants, the four new Tunnel Suites offer an ultra-private luxury experience hidden away from the court and the arena bowl with 12 of the best seats in the house to view the event from. By contrast, the Terrace Suites are easily visible to the bowl and offer 14 guests an elevated all-access experience just off the main concourse. Both the Tunnel and the Terrace Suites come with tickets to all sporting events including playoff games, concerts and shows with the Tunnel Suite owners also receiving exclusive parking under the arena for sporting events using the same ramp as the athletes – putting them just steps from their seats.

‘Crypto.com Arena’ further stated that Phase Two of the renovations also features a whole new look for the Upper Concourse level and concession stands throughout the venue, as well as an all new high-performance JBL Professional sound system. One of the largest sound systems in the NBA, the new JBL design includes the top-of-the-line JBL VTX A-Series line array loudspeakers and JBL VTX subwoofers along with other premium JBL Professional installed loudspeakers for powerful, yet even coverage throughout the arena.

Remarked Lee Zeidman, President, Crypto.com Arena, Peacock Theater and L.A. LIVE, “The completion of Phase Two of our three-year renovation plan is the most significant change that we have made to the arena bowl and our premium offerings since we opened our doors in October 1999. Our team worked incredibly hard all Summer along with our contractors to get this phase done in time for the highly anticipated NBA and NHL seasons. I want to thank everyone associated with the project who worked diligently through a packed Summer schedule of events. We look forward to welcoming guests back to the Crypto.com Arena for what is sure to be an exciting schedule of sports and entertainment.”

The Peacock Theater is a music and theater venue in downtown Los Angeles, California. It’s located in L.A. LIVE, a four million square foot sports and entertainment district. The theater has 7,100 seats and is one of the largest indoor stages in the United States.

Coca-Cola: The venue will continue to grow its longstanding partnership with Coca-Cola, a Founding Partner of Crypto.com Arena and a brand that has become a cornerstone of the arena’s guest experience over the years. As part of the recently expanded partnership, there is a great deal of excitement as the brand new, first-of-its-kind ‘Coke Studio’ – a 3,300 square-foot music studio and event space located at Crypto.com Arena will debut.

Set to soft open to the public this Fall, the fully immersive, custom-designed space is a remarkable addition that will provide visitors with an interactive opportunity to experience the brand up close and personal. The new Coke Studio will also feature exclusive branded merchandise and product offerings, along with music-focused activations, podcast recordings, live performances, artiste appearances, and more year-round.

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