Could Legacy Brand RadioShack Redefine Itself Through… DeFi?
RadioShack was a technology hallmark in the late 1990s. Big box stores dominated the emergence of new technological innovations, when personal computers, cell phones, printers, and the like all started to hit the market and were host to a fast race to be a leader in innovation.
However, in recent years, big box presence has dwindled, and RadioShack has been largely seen as a legacy brand that failed to shift to consumer demand – investing in brick and mortar without optimizing their online shopping experience.
Could the century-old consumer goods brand keep it’s heart pumping through… DeFi?RadioShack Is Now A DeFi Product?
RadioShack’s website is now front and center an announcement for a new DeFi protocol, which will host the RADIO token. A waitlist is available for early notifications, Discord and Telegram communities are established, and yes – there’s a RadioShack DeFi whitepaper on Github. The platform will look to infuse the RADIO token as a ‘hub’ of essentially a hub-and-spoke model that takes a unique approach relative to traditional DEX’s:
Oh, and you can still shop online for your technology hardware needs too.
It’s the latest unique and unexpected twist in crypto, as DeFi continues to have a strong performance to close out the year. Protocols that have a major emphasis on DeFi products, including the likes of Avalanche (AVAX) and Terra (LUNA) have entered the top 10 in crypto market caps recently.According to the RadioShack whitepaper, Polygon (MATIC) will be a chain that will look to integrate in it's 'Starfish Topology'. | Source: MATIC-USD on TradingView.com
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Yes, brand engagement in crypto (most notably NFTs) has been ramping up immensely in recent months. However, this move admittedly wasn’t on our shortlist when 2021 was getting started. It’s a bizarre brand entry from a company image that was basically on life support.
According to the refreshed RadioShack website, the endeavor is being spearheaded by long-time social media personality Tai Lopez and business partner Alex Mehr. The two will start off the platform with a swapping feature. According to the whitepaper, the platform will look to leverage retail ecommerce ventures (and still lists platform partners in the traditional retail space, including Pier 1, Linens N Things, and Stein Mart) and will bring in DeFi protocol Atlas USV for protocol liquidity.
Can’t say I expected to see a DeFi protocol that had Pier 1 as a listed partner anytime soon, but again – nothing should really surprise us in this space anymore. Who knows, maybe Blockbuster NFTs and Bed Bath ‘N Beyond blockchain loyalty reward programs are on the horizon.
At this point in crypto, anything is possible.
Related Reading | To Ban Or Not To Ban? Russia Concerned About Growing Crypto TransactionsFeatured image from Fortune.com, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.