WiCrypt, the pioneering African Web3 startup known for its blockchain-based WiFi sharing network, has taken a significant step by appointing Onega Ventures as the exclusive distributor of its devices in China, marking the company’s foray into the Asian market.
Established in 2018, WiCrypt transforms how people access WiFi. You can simply download their app to share your mobile device’s connection easily. Alternatively, you can use their special WiCrypto hotspot creator device. This device is customisable, allowing you to add surveys, ads, and collect customer data.
Within the WiCrypt network, connected devices are represented as NFTs (Non-Fungible Tokens) linked to the blockchain. All data transmitted through these devices is instantaneously recorded on the blockchain via corresponding NFTs on the WiCrypt block explorer.
WiCrypt compensates hosts for providing WiFi services, with users paying for the service. Additionally, hosts receive further incentives through the native token, $WNT, as a reward for maintaining high device uptime.
At present, WiCrypt’s decentralised physical infrastructure network spans nearly 1,100 hotspots across over 30 countries, serving more than 45,000 accounts and facilitating the transmission of over 895 terabytes of data.
In 2021, when the Enugu-based Web3 startup secured $1.5 million in funding, it revealed plans for expansion into new markets, with China being one of its targeted regions. As the world’s second-largest economy, China boasts a population of 1.4 billion, with 800 million active Internet users.
A Twitter statement from WiCrypt expresses excitement about the partnership with Onega Ventures, designating them as an official WiCrypt agent and the exclusive distributor of WiCrypt devices in China. The statement indicates that customers can now purchase, repair, and manage WiCrypt devices through Onega Ventures in China.
WiCrypt CEO Ugochukwu Aronu shared the company’s ambitious plans for developing the WiCrypt network model in China. Aronu emphasised the goal of allowing everyone to earn passive revenue while engaging in their routine internet activities. Bruno YU, COO of Onega Ventures, an early investor in WiCrypt, is expected to play a crucial role in realising the expansion into China.
In Nigeria, WiCrypt has the backing of the Nigerian Communications Commission, with the telco regulator having invested $5,500 in the startup during its early stages.
According to Aronu, WiCrypt’s mission is to provide last-mile internet to people worldwide while leveraging blockchain technology. Hosts stake $WNT to become part of the WiCrypt Network,
The African Web3 startup has expanded its integration with peaq, activating its initial WiFi hotspots on krest, peaq’s sister blockchain. These hotspots come with unique peaq IDs. This development streamlines the onboarding process for new users, allowing them to effortlessly connect to the network using devices that are now compatible with peaq right from the beginning.
