The view of a classic RadioShack store doesn’t tend to evoke visions about the future of currency, but that may change soon as recent reports imply. Back from the dead? This 100 year old brand is looking to resurrect itself off the strength of the blockchain, but is their enough electricity left in the once-insolvent brand? Let’s explore
#1 The “Shack” is back? Radio Shack is bringi nc
Radioshack, the century-old brand electronics store, has made a comeback from the dead, and is now, to everyone’s surprise, a cryptocurrency brand. Radioshack Corporation was originally founded in 1921 and reached peak popularity in the 90s, the new millennium however was too much to handle for this nostalgic brand, as the company was forced to file for bankruptcy in 2015, after changing hands multiple times the company closed most of their stores during the year 2017 and was slowly but surely leaving the public consciousness.
What was supposed to be the death of another giant became a far more interesting story, when the company was bought by Retail Ecommerce Ventures (REV), a holding company partly owned by Tai Lopez.
#2 Tai Lopez et al now own RadioShack
Tai Lopez has a colorful past to say the least, with a lot of controversies surrounding his name. People who have been following his career, have called him out in the past for his “get rich quick” schemes. Tai is however a well-known figure in the crypto community, he’s been promoting the concept of cryptocurrency and blockchain technology for a while now, and his involvement in the new RadioShack project is something that is very much inside his sphere of influence.
Specific and detailed information about the future of the brand is not widely available, however, there have been announcements and rumors suggesting that, while the company will not abandon its retail operations, for the time being, a part of the brand will pivot to become a cryptocurrency business. The new venture is called RadioShack DeFi, and, as the name suggests, will be focused on decentralized finance, and their self-proclaimed mission will be to “Lead the way for blockchain tech to reach mainstream adoption by other large brands”.
The team claims they will start this mission by building a token swap platform, a platform that allows people to freely exchange cryptocurrencies and tokens without the need for a centralized intermediary. These kinds of platforms are currently very popular within the crypto-sphere as they solve the problem of having to trust a third party (usually a company) with your funds and information, and also because investing in them has been alarmingly profitable for some of the current players in the market.
#3 Twitter reacts to RadioShack diving into Cryptocurrency
RadioShack DeFi announced their token swap will run in the form of what they call an “owned liquidity pool model”, this model is different from the one used by the most known players in the field of decentralized finance such as Uniswap or Pancakeswap and is part of a new generation of models that try to own their liquidity instead of renting it from others, this is supposed to incentivize a perspective of long-term holding over the usually yield farming protocols, which usually suffer from the fact that most of their liquidity disappears once their rewards for doing start dropping.
Their roadmap explains how they will build their model by partnering with Atlas USV, a platform that will provide the base-layer and the treasury needed to run the protocol. It’s worth mentioning that Atlas USV is a project that was also created by Tai Lopez and his partner Alex Mehr, so the proposed symbiosis goes beyond the technology.
Not everything is known about the future of RadioShack DeFi, their RADIO token, and the role that will be played (if any) by the original brick and mortar stores, but their claimed goals are as grandiose as the Lamborghini that Tai Lopez usually keeps in his garage.
For now, you can go to Radioshack.com and join the waitlist to read about upcoming news on the project, that way you can learn more, and maybe, just maybe, earn more as well.