Crypto Co-stars With Hollywood

Crypto has gone Hollywood, and vice versa, as the two industries are deepening their financial and strategic ties. From a report: For crypto, these partnerships are about building brand awareness. For entertainers and entertainment companies, it's about fear of missing out on the next big thing.The Staples Center in Los Angeles said Wednesday that it will be renamed Arena, via a 20-year naming rights deal valued north of $700 million. Expect there to be in-stadium synergies, including around NFTs. This comes after a slew of actors, athletes, musicians and influencers have invested in crypto companies, often becoming official or de facto spokespeople. Others are peddling NFTs. Some want to get in early on an emerging technology that could revolutionize their industries, unlike the original social media revolution in which most of the profit stayed in Silicon Valley. Or, as one crypto insider told Axios: "Ashton Kutcher made a ton of money by getting in early on Twitter, but he was kind of alone ... Lots of people in Hollywood want to make sure they don't make that mistake again."

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