RadioShack has shifted its attention to DeFi and NFTs. After 100 years, its current objective is to “close the gap in widespread DeFi adoption.”
This year 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 firm altered its Bio and website to promote its new goal of starting and supporting a DeFi project, which left a lot of Crypto Twitter users scratching their heads.
RadioShack Wants to Change the Crypto World
RadioShack’s new Twitter profile sends a clear message despite the lack of an official announcement: the corporation now aims to make a major splash in the decentralized financial space.
The hundred-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 adoption.”
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 mechanism that allows third-party tokens to flow continuously into the DEX and be exchanged for discounted USV Tokens.
The connection appears to be a win-win arrangement at first since liquidity providers get access to new tokens that they may trade for profit. But, on the other hand, RadioShack uses third-party tokens to boost its cash flow.
According to RadioShack, Atlas USV protocol is a long-term holder, not a reward-oriented, short-term generator of liquidity, giving its platform a competitive edge by ensuring long-term liquidity.
Users may rest certain that the team will not sell the tokens to raise funds. Similarly, Radioshack guarantees that our swap efficiency will be unrivaled for that pair when the liquidity pool surpasses the liquidity level of other exchanges in any token pair.
NFTs Are Also Being Examined
RadioShack is also promoting a collection of NFTs.
According to the company’s website, the RadioShack team collaborated with The Franklin Mint, Modell’s Sporting Goods, and others to develop its tokens, which are currently available for purchase on the NFT Opensea marketplace.
There are 74 items in the collection, including drawings by the company’s CEO, Alex Mehr, and three-dimensional designs, sports-themed images, automobile shots, 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.