Key facts:
RadioShack disappeared from the market in 2017, after entering its second bankruptcy.
For a century, RadioShack was a reference for the purchase of electronic devices.
RadioShack, a company dedicated to the retail sale of technological devices, revived from two bankruptcies and after having completed 100 years. He did it by relying on cryptocurrencies, which are now part of the business of this long-standing organization.
A stroke of the rudder caused Radio Shack became a platform to do swap (exchange) of cryptocurrencies, in addition to farming, staking and other businesses with these assets, as they show on their website.
This was carried out by two investors, named Alex Mehr and Tai López, who in 2020 bought the company (which went bankrupt twice) and turned their goal towards the new economy.
Nevertheless, RadioShack, loyal to its beginnings, continues to offer electronic gadgetssuch as batteries, telephone accessories, computers, radios, televisions, hearing aids and many other devices that recall the principles of this company.
The turnaround of the internationally renowned company began in May. The division designed for cryptocurrencies is called RadioShack Swap. By then they reached a transaction volume of more than USD 50 million, according to calculations by CoinMarketCap.
In its Web page, remember the career and the social impact they had for 100 years. For this reason they seek “lead the way for blockchain technology to reach mainstream adoption by other big brands”.
It was estimated in May that up to 10 thousand users entered RadioShack Swap to exchange cryptocurrencies, who saw opportunities in the low transaction fees that the platform has.
“The cryptocurrency scene is bursting with creativity and we are thrilled to make RadioShack a central marketplace and consumer-facing hub,” said the company.
Currently, there is no updated data on the trading level of RadioShack’s cryptocurrency swap and trading platform. For this reason, CriptoNoticias sent messages in order to know the current status of the company. We will update this article if we get any response.
Twitter, the hitch
RadioShack’s resuscitation occurred on Twitter, through an account that had an abrupt change in its communicational narrative. As can be seen in their messages, it is a direct and almost informal line, with which they aim to engage more users.
That is maintained by Kylie Cammon, founder of the marketing consultancy on social networks Flying Hare Social, who, consulted by The Washington Post, claimed that RadioShack’s tweets are a way to gain visibility on the crowded social network. “Everyone who is interested in cryptocurrencies is interested in this type of humor. They definitely got what they were looking for there.” explained the specialist to the American newspaper.
And although that language led many Twitter users to alert of an alleged scam on behalf of RadioShack, the company itself cleared up in an email sent to Washington Post which are “completely false” criticisms, as the platform “has grown since we started improving our Twitter posts over the past few weeks.”
The return to the fore of RadioShack, a company that continues to have emotional meaning for those who lived through the 80s and 90s, shows that the new economy not only allows the expansion of monetary ideology, but also makes it possible to bring back projects that were thought extinct , giving them a new chance to shine.