- RadioShack (RADIO-USD) — An exchange looking to bridge crypto with mainstream brands
- BlockbusterDAO — A decentralized autonomous organization (DAO) looking to purchase the rights to Blockbuster
- BitTorrent (BTT-USD) — BitTorrent’s original file sharing model, optimized for the blockchain
- LimeWire — Another classic file sharing service, this one revamped for non-fungible token (NFT) sales
- MoviePass — MoviePass revisited with crypto rewards
Nostalgia is a powerful force; everybody loves thinking of fond memories. It’s a feeling that companies often try to induce precisely because of that reason. People are just more likely to buy into something that they feel an attachment to.
The blockchain industry has high potential, countless use cases and a lot of capital. It’s a venture that nearly every company seems to be trying to break into as well, for better or for worse. It’s also a venture that is inviting old companies out of the woodwork, and they’re looking to cash in on their nostalgia factor.
In the last few years, investors have seen several old and forgotten brands popping back up. These brands are looking to reinvigorate themselves by cashing in on crypto and NFT hype. Although not all have legitimate use cases, they are grabbing attention as investors recall these brands of days old.
If you’re interested in checking out some of the most popular nostalgic crypto projects out right now, here are some of the best bets.
Nostalgic Crypto Projects: RadioShack (RADIO-USD)
To be clear, RadioShack isn’t a “zombie project” — it still operates an electronics retail operation. Since filing for bankruptcy in 2015, the company has turned toward e-commerce, operating a website and hosting a store on Amazon (NASDAQ:AMZN). However, it is now trying to shake things up and get people talking about the RadioShack brand again through crypto.
First announced in December 2021, RadioShack is pivoting into the blockchain market with its own cryptocurrency, RADIO, a token which underlies the recently launched RadioShack Swap platform. The goal of this token is to hopefully bridge crypto with other larger brands in order to drive the ubiquity of digital assets.
RadioShack Swap is a pretty typical exchange. Its edge comes from its focus on creating the deepest liquidity pools possible. As the life of the RadioShack Swap continues, it will be interesting to see how it fares against others.
BlockbusterDAO is unique in that the project isn’t the old Blockbuster team joining forces to reclaim the company’s former glory. Instead, the project is comprised simply of Blockbuster fans who fondly recall the days of renting videos from a physical store.
A DAO is a collective of people who band together for one common goal. What makes DAOs different from other interest groups is that they exist on the blockchain in some form or another. In the case of BlockbusterDAO, the community is trying to make a blockchain-based, decentralized streaming platform for movies, TV and games.
The goal of the project pertaining to Blockbuster is to crowdsource the necessary funds to buy the Blockbuster intellectual property off of Dish Network (NASDAQ:DISH). Dish bought the Blockbuster assets over 10 years ago, after the company filed for bankruptcy. Once these assets are secure, the DAO can launch its streaming service entirely under the Blockbuster name.
Nostalgic Crypto Projects: BitTorrent (BTT-USD)
BitTorrent has existed in its blockchain form since 2019. So, while not necessarily surprising, it is noteworthy to mention that BitTorrent is perhaps the most successful case of a nostalgic brand turning to crypto.
BitTorrent was already built with decentralization in mind. The peer-to-peer file sharing network allowed multiple users to bear equal weight of a file transaction, allowing for faster speeds. This is still how the project works today.
However, Tron has outfitted the project with a BTT token, which rewards users for transacting on the network. So far, the project is proving quite successful, with the BTT crypto possessing a market capitalization of over $1.5 billion.
BitTorrent and LimeWire go hand in hand. So, it’s only right that a LimeWire crypto project pops up in the wake of BitTorrent’s success. Indeed, it looks like the file sharing platform is getting its own rebirth, but LimeWire is taking a different route.
In March, investors learned that LimeWire would be coming back after a 12-year hiatus. This time, the project will be focusing on NFTs instead of file sharing. A booming market, NFTs have been a lucrative new way for artists and celebrities to sell digital memorabilia. LimeWire will be supplementing this market with its own music-based NFT trading platform.
Starting with the project’s rollout in May, users will be able to buy rare music tokens of things like demos, unreleased or limited-edition music, as well as other digital merchandise. In anticipation of the market’s release, LimeWire has already raised $10 million in a private token sale.
Nostalgic Crypto Projects: MoviePass
MoviePass might not be the oldest company here, having shut down in 2019, but it’s certainly memorable. The original service, which allowed users to pay $10 per month for unlimited movie tickets, was highly unsustainable. A reorganization and a cap on movies per month sought to save the company. However, it wasn’t enough.
Well, now the company is back, with its original CEO, and it’s looking to leverage crypto for its rebrand.
Rather than operating a per-month membership program, MoviePass 2.0 will allow users to buy tickets with crypto credits. Users can earn these credits by watching ads on the MoviePass app. The catch is that the app will use eyeball-tracking software, forcing users to actually watch. The revamped product is slated for a summer 2022 release.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.