RadioShack’s new Edgy marketing campaign is definitely something
A lot of people thought RadioShack’s Twitter was hacked when it started posting stuff like… well, this. (Be warned: their tweets go deep into PG-13+ territory. Maybe A. Some, even XXX.)
But these were not sent by a traditional NSFW account. No, these are from a (formerly) family-owned establishment that your grandparents proudly frequented in the 80s and 90s: RadioShack.
To answer your next question: No, RadioShack was not hacked by a disgruntled ex-employee. Nor was it the victim of an intern’s last day of work.
Simply put, this is what twice bankrupt e-businesses do when they start selling cryptocurrencies.
It’s true. Radio Shack Crypto is now open for business.
REV-ing for business
RadioShack was founded in 1921 to sell radio equipment. As technology got more advanced, it added the basics your grandparents remember: cell phones, charging cables, and more.
Unfortunately, cheap alternatives sold by online competitors like Amazon largely pushed it out of the market in the mid-2010s. RadioShack ultimately filed for bankruptcy twice: first in 2015, then in 2017 It also closed more than 1,000 company-owned physical storefronts, leaving only 400 franchises from its peak of 7,300 stores.
Then, in 2017, investors Alex Mehr and Tai Lopez bought the struggling brand through their company Retail Ecommerce Ventures. They planned to revamp the brand, partner with the competition, and relaunch its online presence. For many, the brand fell into oblivion as nothing came of their claims.
Then, in March 2022, RadioShack was relaunched as a cryptocurrency exchange, supplementing its limited tech offerings and retro apparel with modern tokens.
A look at Tai Lopez
Tai Lopez is a celebrity entrepreneur and the owner of Retail Ecommerce Ventures (REV), the company that bought RadioShack in 2017. Other businesses under his name include Pier 1 Imports, Ralph & Russo, Wilhelmina, DressBarn, and Steinmart.
Lopez is also a crypto enthusiast and former NFT “guru” who has stumbled into a few controversies over the years. Complaints include allegations of questionable marketing tactics and ridicule of its self-proclaimed “expertise” on any trending topic that could potentially generate profits.
Additionally, his foray into NFTs was branded a scam by critics who uncovered evidence from the blockchain he was “siphoning”.[ed] get the funds out” as soon as users created NFTs on its platform.
But that hasn’t stopped Lopez from revamping the crypto. (Or try, anyway.)
Radio Shack Crypto: A New Breath
“Think you know crypto? You don’t know SHACK”
That’s the new greeting you’ll see if you venture onto the RadioShack website, along with a promo reading: “Radio Shack Swap is live.”
There is also a banner at the top of the page with the words: “Looking for Radio Shack Crypto? Swap is now live!” and a handy link to “Enter App”.
You might be thinking: Between the wild tweets and the fact that a twice bankrupt e-company is selling crypto, this is all very bonkers. And, dear reader, you would be absolutely right.
At the same time, it’s also a remarkably effective marketing ploy for a company trying to find its footing in a realm of trend-lovers. With clever puns, rude jokes, and more than one Elon Musk reference, RadioShack makes sure its crypto offering reaches the widest possible audience.
Of course, the tactic may drive away older or more conservative users. But in the process, it raises awareness of products among its target base: the libertarian-leaning and Gen-X crypto “degenerates” or “degenerates,” a mantle that many crypto advocates have proudly embraced.
The Radio Shack Swap and a brand new token, $RADIO. Currently, the currency itself is trading for around a penny, as the crypto winter seems to have cut around 2/3 of the wind from its sails. (RADIO’s peak has never exceeded five cents per token; being launched when cryptos are down has done the coin a disservice.)
And while it’s unclear whether $RADIO or Radio Shack Crypto Swap will be successful, the company is certainly getting there. (And building on its brand name in the process.) The crypto platform bills itself as a “century-old brand embedded in global consciousness” that will “pave the way for blockchain technology.”
Don’t Dive Into Crypto For A Few Buzzing Tweets
If REV succeeds in reviving RadioShack using crypto, it could bring the company back to the brink of bankruptcy. Unfortunately, new crypto launches are in spades – and most rarely achieve the success of bitcoin and ether.
As such, unless you pick the right coin at the right time, new crypto launches make bad bets for investors.
But in a world where everything seems to be moving towards blockchain and crypto, it might also be unwise to ignore the trend entirely. That’s why we launched our Crypto Kit, which uses the power of AI to invest in exchange-traded trusts that offer significant risk reduction and reward potential.
As a specialist investment kit, you can rest easy knowing we’re doing all the hard work for you. And instead of capitalizing on the latest news from the crypto craze, we’ll make sure you invest in quality – not just buzz – every time.
Download Q.ai today to access AI-powered investment strategies. When you deposit $100, we add an additional $50 to your account.