In Brief:
- Radioshack intends to enter into the DeFi market.
- The event is taking place to celebrate its 100th anniversary.
- It is also planning to develop its own NFT soon.
The legendary provider of electrical components and specialised gear, Radioshack, is celebrating its 100th anniversary this year by commemorating the occasion by expanding its line of business to include bitcoin with the introduction of a DeFi protocol and an NFT collection.
The company changed its twitter Bio and website to promote its new vision of starting and promoting a DeFi project, which left a lot of Crypto Twitter users scratching their heads.
Despite the lack of an official announcement, RadioShack’s new Twitter bio sends a clear message that the company now aims to make a major splash in the decentralised finance space.
It’s official statement says, “our mission is to be the first protocol to bridge the gap in mainstream usage of DeFi.”
RadioShack DeFi is currently the focus of the main RadioShack website. The Atlas USV (an acronym for Universal Store of Value) token will be used to power the new DeFi service, which will begin with a Swap.
The goal is to create a system that allows third-party tokens to flow into the DEX and be swapped for discounted USV Tokens on a regular basis.
The connection appears to be a win-win arrangement at first since liquidity providers gain access to new tokens that they may trade for profit. RadioShack, on the other hand, uses third-party tokens to boost its cash flow.
The organization explained that, “Atlas USV protocol is a long-term holder, not a reward-oriented, short-term provider of liquidity.”
Along with the introduction of DeFi, a collection of NFTs is also being promoted by RadioShack.
The RadioShack team collaborated with The Franklin Mint, Modell’s Sporting Goods, and others to launch its tokens, which are currently available for purchase on the NFT Opensea marketplace, according to the company’s website.
There are 74 pieces in the collection, including drawings by the company’s CEO, Alex Mehr, as well as three-dimensional designs, sports-themed photographs, automobile photos, and other designs.
Earlier in November legendary food chain McDonalds launched McRib NFTs to celebrate McRib’s 40th anniversary. Fans were suggested to follow McDonalds on Twitter and retweet a contest invitation between Nov. 1 and 7 for winning this virtual art.
