Miami Heat Arena Now Has New Name
<p>FTX Arena, formerly known as the Miami Heat’s stadium, has been renamed Kaseya Center in the latest development of crypto sports sponsorships. The crypto winter in sports sponsorships can be traced back to 2021 when large sponsorships were being approved, such as Crypto.com’s $700 million deal to buy naming rights to the Lakers’ stadium and FTX sponsoring esports organization TSM for $210 million. However, in the second half of 2022, crypto sponsorship spending slumped to $3 million. Conrad Wiacek, head of sports analysis and consulting at GlobalData, isn’t optimistic for the future of crypto dealmaking, saying that he doesn’t expect crypto deals to bounce back anytime soon.</p>
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