Fun

Radioshack Goes Defi in Its Latest Iteration

News Feed - 2021-12-20 06:12:46

Radioshack Goes Defi in Its Latest Iteration


Radioshack, the electronics-associated brand, has announced it will now pivot to a cryptocurrency-centric model. The company informed that its focus will be to “bridge the gap” to bring cryptocurrency into mainstream use. This is the latest iteration in the story of the brand, which was known for offering electronic products at a retail level in the ’70s and ’80s. Radioshack Introduces Defi Business


Radioshack, a 100-year-old brand associated with consumer electronic devices and personal computers in the ’70s and ’80s, is now pivoting its operations to a cryptocurrency model, according to data provided by the company. The mission of this new iteration of the company will be to “bring cryptocurrency to the mainstream.”


For this, Radioshack will start with launching a decentralized exchange, or a “swap,” to allow its users to exchange currencies for others without having to register in a commercial exchange. The backend for this endeavor, Radioshack explains, will be provided by a partner protocol called Atlas USV. The company estimates that this partnership will allow this new swap to provide traders with less slippage because the exchange is expected to work with an owned liquidity model.


If launched, the exchange will have its own native token, called RADIO. Down Two Times, and Resurrected


Radioshack’s path to crypto comes after the company filed for bankruptcy protection twice in 2015 and 2017, posting its last green numbers in 2011. However, that brand was resurrected and acquired last year, to form part of a portfolio of brands in the hands of two investors. Alex Mehr and Tai Lopez acquired the brand and they are now putting it at work in this new cryptocurrency-based focus.


The investors declared, at the time of the acquisition of the brand, that they didn’t have the intention of reviving the old electronics retail business and aimed to turn Radioshack into an online marketplace. Merh declared:


We bought the raw material to build a big business. Brand means trust. And the brand is very, very strong. I have quantifiable data that the brand is very strong.


Radioshack is not the only legacy company that has pivoted to crypto lately. Kodak, a photography-related brand, also made its crypto bet back in 2018, when it announced the launch of its own token called Kodakcoin, which would serve for users to register their photos on a platform and license them for other uses. However, this shift was short-lived, and Kodakcoin never launched. Tags in this story atlas UST, Crypto, electronics, kodak, kodakcoin, radioshack, Radioshack blockchain, Radioshack crypto, retail


What do you think about Radioshack and its pivot to crypto? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Instagram Is "Exploring NFTs" to "Make Them More Accessible to a Wider Audience," Says CEO NEWS | 30 mins ago Financial Services Company SBI Group Launches Diversified Crypto Fund in Japan NEWS | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitYard Integrates 80+ Chainlink Price Feeds for Enhanced Price Accuracy and Stability Next articleCryptocurrency Bill Advances to Chamber of Deputies in Paraguay Show comments More Popular NewsIn Case You Missed ItTony Hawk Launches "Last Trick" NFT Collection to Commemorate Career and Signature Moves


Following the American professional skateboarder Tony Hawk’s first non-fungible token (NFT) sale on the NFT marketplace Autograph, Hawk is commemorating his career with a new series of NFTs called the “Last Trick” collection. The popular skateboarder’s latest digital collectibles showcase ... read more.Lending Platform Ledn Launching Bitcoin-Backed Mortgage Product, Raises $70 Million New Cryptocurrency Bill Advances to Senate in Brazil Illegal Crypto Miners Threatened With Jail Time in Russia Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade

News Feed

SEC, CFTC, FinCEN Warn Crypto Industry to Follow US Banking Laws
The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday. The statement, signed by Commodity Fu
Prashant Jha10 hours agoCanadian MP urges community to study Bitcoin, cites Gensler’s pre-SEC stanceLightbound disclosed he owns Bitcoin himself and advocates for people to study it.2383 Total views20 Total sharesListe
Nigerian Presidential Hopeful Says He Supports Digital Currencies but Wants the Industry Regulated
Nigerian Presidential Hopeful Says He Supports Digital Currencies but Wants the Industry Regulated Nigerian presidential hopeful, Bukola Saraki, recently said he supports the digit
Tom Blackstone11 hours agoOPNX launches ‘oUSD’ credit currency for crypto margin tradingThe new “credit currency” will allow users to rely on cryptocurrencies as collateral without needing to obtain loans from ot
William Suberg39 minutes agoMiners send millions to exchanges — 5 things to know in Bitcoin this weekBitcoin miners appear to be reducing risk as the significance of BTC price above $30,000 remains firmly in evidence.5
Losses from crypto hacks plunge 67% in April to $60 million
Zoltan Vardai11 hours agoLosses from crypto hacks plunge 67% in April to $60 millionThe amount stolen through crypto hacks, along with the number of successful attacks, has seen a sharp decline in April.2041 Total views4
Bitcoin clings to $65K — More losses ahead for BTC price?
Zoltan Vardai7 hours agoBitcoin clings to $65K — More losses ahead for BTC price?Bitcoin price briefly dipped below the $65,000 mark as long-term BTC holders started selling. Can BTC price close the week above $65,600?
Analyst Says These Factors Will Drive XRP Price To $1,000, But What Does Market Cap Say?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Pixelverse to refine Telegram mini-games with Azur Games partnership
Ezra Reguerra11 hours agoPixelverse to refine Telegram mini-games with Azur Games partnershipPixelverse co-founder Kori Leon said that while clicker games are trending now, attention will shift to new genres.1057 Total v
257 Economists Say Global Recession Is Near, US Trade Restrictions Against China Could Stir Taiwan Invasion
257 Economists Say Global Recession Is Near, US Trade Restrictions Against China Could Stir Taiwan Invasion According to 257 economists polled by Reuters, the global economy is app
IMF urges careful design, slow introduction for Pacific Island digital currencies
Derek Andersen2 hours agoIMF urges careful design, slow introduction for Pacific Island digital currenciesThe island nations have common challenges and widely varying conditions. Just don’t use crypto, the IMF says.610
Joe Biden: US Bringing 30 Countries Together to Stop ‘Illicit Use of Cryptocurrency’
Joe Biden: US Bringing 30 Countries Together to Stop "Illicit Use of Cryptocurrency" President Joe Biden says that the U.S. will bring together 30 countries to stop “the ill