RadioShack has shifted its focus to DeFi and NFTs. After 100 years, its current objective is to “close the space in widespread DeFi usage.”
This year, 2021 marks the 100th anniversary of Radioshack, the iconic seller of electrical components and specialized gear, and what better way to commemorate the occasion than by expanding its line of business to include cryptocurrency with the creation of a DeFi protocol and an NFT collection.
The company altered its Bio and website to promote its new vision of starting and promoting a DeFi project, which left a lot of Crypto Twitter users scratching their heads.
RadioShack Wants to Change the Crypto World
Despite the absence of an official announcement, RadioShack’s new Twitter bio sends a clear message: the corporation now aims to make a major splash in the decentralized finance space.
The 100-year-old corporation’s updated Twitter bio now states it intends to introduce crypto to the common consumer: The new objective of RadioShack is to “be the first protocol to overcome the gap in popular DeFi usage.”
RadioShack Defi is currently the focus of the main RadioShack website. The Atlas USV token will be used to power the new DeFi service, which will begin with a Swap (an acronym for Universal Store of Value). The objective is to establish a system that allows third-party tokens to continuously flow into the DEX and be exchanged for discounted USV Tokens.
The connection appears to be a win-win arrangement at first since liquidity providers gain access to new tokens that they may trade for profit. RadioShack, on the other hand, uses third-party tokens to boost its cash flow.
“Atlas USV protocol is a long-term holder, not a reward-oriented, short-term generator of liquidity,” according to RadioShack, giving its platform a competitive advantage by ensuring long-term liquidity.
Users can rest assured that the team will not sell the tokens to raise funds. Similarly, Radioshack claims that “if the liquidity pool reaches the liquidity level of rival exchanges in any token pair, our swap efficiency will be unbeatable for that pair.”
NFTs Are Also Being Examined
A collection of NFTs is also being promoted by RadioShack.
The RadioShack team collaborated with The Franklin Mint, Modell’s Sporting Goods, and others to launch its tokens, which are now for sale on the NFT Opensea marketplace.
There are seventy-four pieces in the collection, including drawings by the company’s CEO, Alex Mehr, as well as three-dimensional designs, sports-themed photographs, automobile photos, and other designs.
Will RadioShack be able to make a profit in this new venture? Or, even worse, another “Long Island Blockchain Tea”? Nobody knows, but this is the crypto world, and at the very least, risk-takers will have a new token to trade with.