Technology

RadioShack wants to pivot and become a crypto company

Some brands are perceived as simply being too memorable to disappear, even if Father Time has moved on. RadioShack is one such example, at least according to its latest owners, who are relaunching it as a crypto company. The 100-year-old company was once a major player in the consumer electronics space, but those days have long since passed.

RadioShack filed for bankruptcy in 2015, and again in 2017, before being scooped up by its latest owner, Retail Ecommerce Ventures (REV) in November 2020. Over on RadioShack’s website, the company outlines its plan to bring cryptocurrency to the mainstream. In short, they believe the best way for crypto to become more widespread is for an established brand with a history in tech to lead the way.

Phase one of this plan involves a token swap which the company explains in agonizing detail across multiple documents.

For a company that wants to bridge the “generational gap between the average crypto buyer and the average business decision maker,” the plan lacks the simplicity that one might expect.

Notably, RadioShack is partnering with Atlas USV on the project, which is run by Tai Lopez and Alex Mehr, the team behind REV (who purchase RadioShack last year).

If you’re just starting out in crypto, I’d recommend simply purchasing some coins through an established exchange and saving the complex stuff for later once you develop a better understanding of token swaps, smart contracts and the like.