Electronics retail company, RadioShack has announced its entrance into the decentralized finance sector (DeFi). The 100-year old seller of electronic components and specialized hardware has also partnered with The Franklin Mint, Modell’s Sporting Goods, and others to launch its own line of non-fungible tokens on the Opensea marketplace.
<h2><strong>RadioShack Announces Entry into DeFi</strong></h2>
In a statement published on its website, RadioShack said it will act as the intermediary between global corporations and the world of crypto. RadioShack DeFi, the website now <a href="https://www.radioshack.com/" target="_blank" rel="nofollow noopener">reads</a>, "will be the bridge between the CEO's [sic] who control the world's corporations and the new world of cryptocurrencies."
<blockquote><em>“RadioShack DeFi is focused on the early majority. It will become the first to market with a 100 year old brand name that’s recognized in virtually all 190+ countries in the world,” </em>the website added.<em>
</em></blockquote>
The website touted a partnership with Atlas USV, a DeFi protocol that allows applications to be built atop it. It wants to start by creating a decentralized exchange (DEX).

The new service will start with a Swap that will be powered by Atlas’s Ethereum-based USV token. Interestingly, the token is new enough and it isn’t even one of the 10,000 assets which are tracked by CoinMarketCap and CoinGecko. However, it can be traded on decentralized exchanges.

The latest <a href="https://www.cryptoknowmics.com/news/minicaps-reforms-the-defi-listing-platform-with-inexpensive-market-cap-projects/">DeFi</a> protocol will allow USV users to purchase third-party tokens on the open market and then transfer them to the Atlas USV treasury in return for discounted USV tokens. The idea is to create a system of constant inflow of third-party tokens to the DEX and exchange them for discounted USV Tokens.

This is a win-win situation for everyone because liquidity providers can access new tokens that they can exchange for profit while RadioShack gets third-party tokens to increase its treasury.
<h2><strong>RadioShack's NFT Collection Now Available for Sale</strong></h2>
RadioShack is also promoting a collection of NFTs in partnership with The Franklin Mint, Modell’s Sporting Goods, and others which are now available for purchase on the NFT Opensea marketplace.

The <a href="https://opensea.io/RadioShack" data-wpel-link="external">collection</a> consists of 74 assorted pieces, including drawings of the company’s CEO, Alex Mehr, as well as some three-dimensional designs, sports-themed photographs, vehicle photos, and other various designs.

Electronics Retailer RadioShack Turns Now to DeFi and NFTs

Electronics retail company, RadioShack has announced its entrance into the decentralized finance sector (DeFi) and the to launch of its own line of NFTs.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Electronics Retailer RadioShack Turns Now to DeFi and NFTs

Top Picks