RadioShack DeFi launches crypto market for ‘the older generation’ » BitcoinerX

A legendary shop, which rebranded as an online-focused brand in 2020, now wants to make a name for itself as a cryptocurrency exchange. 

RadioShack DeFi, a market where users may swap recently revealed RADIO tokens as an alternative to a centralized exchange like Coinbase, was unveiled earlier this week. 

‘Only RadioShack can do it’

Furthermore, RadioShack claims to be uniquely positioned to make cryptocurrencies popular, asserting that “only RadioShack, and only RadioShack alone, can bridge the gap and ‘cross the chasm’ of mainstream cryptocurrency usage.”

RadioShack’s claim is that, as a long-established brand, it is well-positioned to sell cryptocurrencies to retired CEOs. 

https://www.youtube.com/watch?v=vh5jyKODsEI

The company’s website claims that the average “decision-making” corporate CEO is 68 years old, and that “too many cryptocurrency companies focus on speculation and not enough on making the ‘old-school’ consumer feel comfortable.” 

Attracting the older generation

“The older generation simply does not trust the Bitcoin youth’s new-fangled ideals, especially adults who are particularly authoritarian, educated, and well-read (i.e., the CEOs that RadioShack hopes to attract).” 

Retail Ecommerce Ventures, its parent company, also owns a number of other brands, like Pier 1 Imports and Dressbarn, and RadioShack speculates that a brand like Pier 1 could launch its own token through RadioShack’s system.

The launch is part of a trend of ailing but well-known firms entering the bitcoin market. 

KodakCoin, a blockchain-powered rights management platform for photographers, was unveiled in 2018 by the photography company Kodak. (This is not to be confused with the unauthorized Kodak cryptocurrency mining machine that was also on display that year.) 

RadioShack’s initiative has a more defined strategy. Its website is noticeably devoid of compelling reasons for a current or former RadioShack customer to use cryptocurrencies.

Image courtesy of Cointelegraph News/YouTube