According to data, Radioshack, a 100 year-old brand that was associated with personal computers and consumer electronics in the ’70s, and ’80s respectively, is now shifting its operations to a cryptocurrency model. This new company’s mission is to “bring cryptocurrency into the mainstream.”
Radioshack will launch a decentralized exchange (or a’swap) to enable its users to trade currencies with others without the need to register on a commercial exchange. Radioshack explained that the backend of this venture will be provided by Atlas USV, a partner protocol. Radioshack estimates that this partnership will enable traders to trade with less slippage, as the exchange is expected work with an own liquidity model.
If the exchange is launched, it will be able to issue its own token called RADIO.
Resurrected Two Times and Down
Radioshack’s journey to crypto begins after the company filed twice for bankruptcy protection in 2015 and 2017. It posted its last green numbers back in 2011. That brand was revived and purchased by two investors last year to be part of a portfolio that includes other brands. Tai Lopez and Alex Mehr purchased the brand, and are now using it in a new cryptocurrency-based focus.
At the time of acquisition, the investors stated that they did not intend to revive the electronics retail business. Instead, they hoped to transform Radioshack into an internet marketplace. Merh declared:
To build a large business, we bought the raw materials. Brand is synonymous with trust. The brand is strong. The brand is strong, according to me.
Radioshack isn’t the only legacy company to have shifted to crypto recently. Kodak, a brand that specializes in photography, launched its crypto wager in 2018. It allowed users to register photos and license them for various uses. This shift was temporary and Kodakcoin did not launch.