Total trading volume has reached approximately $40 million in the two months since RadioShack.org went live as a decentralized, startup-friendly cryptocurrency swap, announced RadioShack.
Thousands of traders—as well as many startups eager to add new tokens on the exchange—clearly see the value in leveraging the high visibility of RadioShack.org, said Alex Mehr, the president of Retail Ecommerce Ventures (REV). The Miami-based REV licensed its RadioShack brand to be used as a cryptocurrency swap platform.
“The launch of RadioShack Swap has been extremely well received, with daily trading volumes averaging anywhere from $500,000 to $2 million,” he said. “The swap is adding two or three new tokens every week, and we continue to see robust interest among gaming-token startups, in particular. They understand that the RadioShack brand is congruent with their own play.”
That visibility is further amplified by the popular social media channels—tens of millions of views on the likes of Discord, Telegram, Twitter, Instagram and YouTube—of globally known REV Co-Founder and Executive Chairman Tai Lopez.
So far, about 10,000 traders have used RadioShack Swap to exchange established and emerging cryptocurrencies. The RadioShack swap is currently available on four different blockchains: Ethereum mainnet, Polygon, Binance Smart Chain and Avalanche Network. The swap fee is just 0.1 percent—a third of what other decentralized exchanges typically charge, according to Mehr.
“People want to maintain control of their own crypto assets and be the stewards of their own private keys,” Mehr noted. “But in addition to the security benefits that accrue from decentralized, peer-to-peer trading, RadioShack Swap offers additional safety protections. For example, RadioShack has measures in place to make it a little harder for scammers to dupe people with fake versions of popular tokens—a perennial problem elsewhere.”
For startups, the liquidity model at RadioShack Swap has proven a strong draw as well, Mehr added. It allows startups to add liquidity for their project token without having to load up on a massive amount of a collateral token (such as USDC or ETH).
Meanwhile, the team is in the final stages of executing a technology-forward redesign of RadioShack.com (which is a separate company that operates traditional brick and mortar and ecommerce). “We’re updating the look and feel to be smarter and cooler, with digital products like storage wallets and NFTs as well as crypto merch by amazing artists,” Lopez said. “The crypto scene is bursting with creativity, and we’re thrilled to make RadioShack.com a central marketplace and consumer-facing hub.”
REV acquired the iconic RadioShack brand and related assets in November 2020. The company has also relaunched Pier1 Imports, Dressbarn, Stein Mart, Linens ‘n Things, and Modell’s Sporting Goods, to name a few, as Internet-only brands.