RadioShack Crypto Exchange Revives Electronics Retailer As DeFi Game
It’s probably been a while since you last heard of RadioShack. The electronics retailer is seen as a fossil, offering its customers outdated technologies like TV antennas and alarm clocks. But, if you don’t know, RadioShack is still here. In fact, the company has been trying to make a comeback for years now. This week, he presents his best record for a comeback to date. A RadioShack crypto project is expected to bring the retailer back in a new guise.
After RadioShack declared bankruptcy in the mid-2010s, the company’s rights floated. After several sales, the company finally fell into the hands of Retail e-commerce companies (REV), the company behind the acquisitions of companies like Dressbarn and Platform 1. With this acquisition, RadioShack has experienced a slight revitalization. The retailer launched an e-commerce platform suitable for the time, as well as a Amazon (NASDAQ:AMZN) showcase in 2020.
But this e-commerce platform is not all. The electronics company is not just looking to reclaim its share of the electronics retail market; instead, REV and RadioShack are breaking into the cryptocurrency space in an attempt to bring the business forward of his peers.
RadioShack Crypto Exchange puts RADIO tokens in the hands of users
A glance at RadioShack’s website shows that the company is making a huge push towards crypto. The new e-commerce store only has a small tab at the top of the page; the rest of the page is full of crypto information and a promise to bring cryptocurrency “to the general public”. Indeed, these bold claims and white page links are tied to the inbound crypto exchange RadioShack.
As the company reports this week, RadioShack will own the next big decentralized crypto exchange (dex). This new company’s white paper explains the company’s “unique positioning” to bring crypto to the mainstream and build a bridge between crypto and the older generation.
The dex will be launched on Atlas protocol, another product from the owner of RadioShack REV. Users will be able to transact on the platform using the company’s inbound RADIO token. In addition to the token exchange, the dex promises other DeFi applications; in particular, users will be able to stake their RADIO or provide liquidity for passive income.
This news is not what investors expected, but it is generating interest nonetheless. It will be quite interesting to see what the performance of the dex looks like at launch. As of yet, there doesn’t appear to be a set launch date. In the meantime, users can sign up to receive notifications as the RADIO token launch approaches.
At the date of publication, Brenden Rearick did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.