RadioShack Launches ‘Old Generation’ Crypto Marketplace

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RadioShack, the venerable retailer relaunched as a web-driven brand in 2020, now wants to prepare for a future as a cryptocurrency exchange. Earlier this week, the company announced RadioShack DeFi (short for “decentralized finance”), a marketplace where people can trade newly announced RADIO tokens as an alternative to a centralized exchange like Coinbase. Additionally, RadioShack insists that it is uniquely positioned to embrace the mainstream of cryptocurrency – claiming that “RadioShack and RadioShack alone can bridge the gap and” cross the chasm “of mainstream use of cryptocurrency “.

RadioShack’s argument is basically that as a very old brand it is willing to sell former CEOs on cryptocurrency. “Too much [cryptocurrency companies] focused on speculation and not enough on putting the ‘old-fashioned’ customer at ease, ”the firm’s website says, claiming that the CEO of a ‘decision-making’ firm needs to average 68 years. “The older generation just doesn’t trust the innovative ideas of the Bitcoin youth,” especially “the particularly bossy, intelligent, and literate adults (i.e. the CEOs that RadioShack seeks to woo).” Its parent company, Retail Ecommerce Ventures, also owns a variety of other brands like Pier 1 Imports and Dressbarn, and RadioShack is speculating that a brand like Pier 1 may launch its own token through RadioShack’s system.

A Pier 1 piece could follow

If you want to know more about RadioShack’s strategy, there is a series of pages explaining the system, which is built on a protocol called Atlas USV. Decrypt also delves into the parts behind the movement. RadioShack is known as a mainstream brand, but the overall goal here is to become a platform that other companies (RadioShack quotes Louis Vuitton, Starbucks and Mercedes-Benz) use to manage their own distributed finance projects. You can join a waiting list to be notified of the launch of the RADIO token.

The launch follows a pattern of struggling but well-known brands entering cryptocurrency. In 2018, camera company Kodak announced KodakCoin, which was supposed to be part of a blockchain-based rights management platform for photographers. (This is different from the unauthorized Kodak cryptocurrency mining machine shown in the same year.) The New York Times has raised questions about the coin and its associated platform, and Kodak appears to have quietly shut it down.

RadioShack has a slightly clearer plan for their project. His site is particularly short on why the average current or former RadioShack customer should want to use cryptocurrency. But for now, the goal is apparently to bring other companies on board by trading on a well-known name. Or, as RadioShack puts it, “the brand is firmly entrenched in global consciousness – ripe to be pivoted to pave the way for blockchain technology to mainstream adoption by other big brands.”

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