Wicrypt, Nigerian Web3 Startup, Makes Strides into Chinese Market with Expansion

Enugu-based blockchain startup, Wicrypt, has expanded its WiFi-sharing network to China, partnering with Onega Ventures as its exclusive distributor.

Wicrypt, Africa’s pioneer blockchain-driven WiFi sharing network, has chosen Onega Ventures as the sole distributor for its devices in China, marking the startup’s entry into the Asian market.

Since its launch in 2018, Wicrypt has allowed individuals to easily access WiFi by using their app or a specialised WiCrypto hotspot creator device. This device can be personalised to include surveys, ads, and the ability to collect customer data.

The devices in the Wicrypt network are represented by NFTs (Non-Fungible Tokens) linked to the blockchain. All data transmitted through these devices is instantly recorded on the blockchain via the corresponding NFTs on the Wicrypt block explorer.

Wicrypt compensates hosts for providing WiFi, with users paying for the service. Additionally, hosts are further motivated through the native token, $WNT, as a reward for maintaining high device uptime.

Currently, Wicrypt’s decentralised physical infrastructure network includes nearly 1,100 hotspots across over 30 countries, serving over 45,000 accounts and handling over 895 terabytes of data transmission.

Following its $1.5 million funding in 2021, Wicrypt revealed plans to expand into new markets, and this expansion into China is one of them. China, as the world’s second-largest economy, has a population of 1.4 billion, with 800 million actively using the Internet.

“We plan to develop the Wicrypt network model in China! So that everyone can earn passive revenue while going about their daily internet activities,” stated Wicrypt CEO Ugochukwu Aronu. “Bruno YU, COO of Onega Ventures, is one of the early investors in Wicrypt. He will help us realise the dream of expanding fully into China.”

In Nigeria, Wicrypt is supported by the Nigerian Communications Commission, which invested $5,500 in the startup during its early days.