Retail Zombie RadioShack is now a crypto company

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RadioShack, once the source of tech gear, plugs, adapters, circuits, and batteries (!) For legions of dedicated geeks, is now an online cryptocurrency business.

Two years after being scrapped by investors Tai Lopez and Alex Mehr of Retail Ecommerce Ventures Review (REV), the century-old brand RadioShack has reappeared as a whole new company focused on supporting repeat consumers in the arena of cryptography. It will do this by helping them trade the existing crypto for a new cryptocurrency known as DeFi.

There is, apparently, something of a business model here where the new RadioShack makes a profit on these exchanges but beyond that, the whole plan and mission statement – “we’re going to lead the way. to blockchain technology to achieve widespread adoption by other big brands “- makes about as much sense as a new 3.5mm headphone jack splitter that doesn’t end in USB-C.

“We will be the bridge between the CEOs who run the companies of the world and the new world of cryptocurrency,” notes the recently updated RadioShack website.

To its credit, RadioShack explains in several documents and in excruciating detail how it plans to make it all work, and how its DeFi currency and partnership with Atlas USV is somehow better and more stable than other crypto exchanges.

It all gets a bit shaky when you realize that Tai Lopez and Alex Mehr (yes, the same people who bought RadioShack in 2020) are also the brains behind Atlas USV, which is, according to the site:

“[Atlas] Universal Store of Value (USV) is designed by Dr Alex Mehr and Tai Lopez as a universal, decentralized and widely accessible DeFi base layer upon which many future projects can be built by the Atlas community and its partners.

Perhaps this is why no one has heard of DeFi before, although there are many cryptocurrencies with “defi” in their name. Mehr and Lopez are the creators, owners and traders of crypto in this new system.

The genius of this plan – if it exists – is that REV also owns a number of other semi-functional retail brands like Pier 1 and Dress Barn. He may be able to use Defi swap to create a crypto transaction system that could convert traditional currency income to Defi in the back end, which can then be moved to REV holdings.

RadioShack lives to fight another day, it seems. But as a virtual crypto brother, that’s not even a shadow of itself.

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