RadioShack Ventures into NFT Collection and a New DeFi

RadioShack Ventures into NFT Collection and a New DeFi
Photo by Alexandru Acea / Unsplash

To celebrate its centenary anniversary of operation, RadioShack, a store which has a reputation for the sales of different electronic components and hardware, seems to be aware of the trends and changes in the tech world. This observation is not unfounded, as the company has changed its services to acknowledge the currency of cryptocurrency by launching an NFT collection and a DeFi protocol. Furthermore, in pursuit of its new goal, and to the surprise of some social media users, Twitter especially, the company had changed its bio on Twitter and its website to reflect this change. This is one of the mechanisms adopted by the company to enhance the promotion of its new business trajectory.

It is no news that NFTs are currently very lucrative and have a projected sale worth over 17.7 billion dollars at the end of the year 2021. As such, it is not surprising that RadioShack, a business operating with the purpose of making profits, has decided to venture into a field that arguably has a large and rewarding return on investment. It has also partnered with Atlas USV to launch its DeFi service called RadioShack DeFi, whose mission is to be the first protocol to bridge the gap in mainstream usage of DeFi by starting with a swap powered by Atlas USV tokens.

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RadioShack has entered into a partnership with other companies to achieve its new business goals. These include partnerships with The Franklin Mint, Modell's Sporting Goods, amongst others. RadioShack's tokens are now offered for sale and available to be bought on OpenSea, an NFT Marketplace. Amongst the seventy-four (74) selected pieces put up for sale as NFTs are the drawings of Alex Mehr, the CEO of the company. Others included in the collection include photographs that are sport-themed, three-dimensional designs, photographs of cars, and other unique designs.

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