RadioShack Returns as a Crypto Company
The goal is to ‘bring cryptocurrency to the mainstream’ using the well-known consumer brand.
RadioShack, once a brand associated with home electronics, has reappeared as a crypto company. As Techradar reports, the RadioShack website now advertises the company as “bringing cryptocurrency to the mainstream” by creating a new protocol allowing everyone to more easily use decentralized finance (DeFi).
In reality, it looks as though RadioShack is planning to launch its own Radio token and will start by focusing on swaps, which is basically a service to exchange cryptocurrencies and tokens. Documents available on the RadioShack website describe this as “ low-hanging fruit,” mainly because of the “incredible levels of profit” available from trading fees.
Whatever RadioShack decides to do, it will be in partnership with a company called Atlas USV, which offers a “universal, decentralized, and widely accessible DeFi base layer” to build projects on top of. But why partner with Atlas? Well, you may remember the RadioShack brand was acquired by Retail Ecommerce Ventures back in 2020, which is run by Tai Lopez and Alex Mehr. Lopez and Mehr are also the duo behind Atlas, so they control the entire operation.
Regardless of the amount of documentation available, for now the details around this blockchain venture seem less than clear. Lopez and Mehr are clearly staking the success of the entire operation on the strength of the RadioShack brand with consumers.
Originally published at https://www.pcmag.com.