Nigerian startup Wicrypt Network, the first standalone blockchain-based Wi-Fi sharing network from Africa, has won the Global Prize at the LEAP 2023 Rocket Fuel Pitch Startup Competition in Saudi Arabia, securing US$150,000 in prize money.
Founded in 2018, Wicrypt is a decentralised mobile internet sharing and monetisation network that allows anyone to get paid for sharing their Wi-Fi. Users download the Wicrypt app and provide Wi-Fi through their mobile device or by purchasing a unique, custom-built Wicrypt Hotspot Creator device.
Wi-Fi providers can customise their customer experience through their Wicrypt dashboard by offering surveys, ads, and collecting customer data. Wicrypt-connected devices are all represented by unique NFTs that are linked to the blockchain. While Wicrypt hosts are paid by those accessing WiFi, Wicrypt also incentivises hosts through its native token, $WNT, for having high device up-time.
Disrupt Africa reported in November 2021 the startup closed a strategic US$1.5 million funding round to help it expand into new countries, since when it has established more than 1,000 hotspot hubs across the world. It has now secured further capital after winning the global prize.
“We started this company to solve a real internet access pain point for people in Africa and underrepresented regions,” said Ugochukwu Aronu, CEO and co-founder of Wicrypt. “It’s exciting to see that our technology is being awarded for making a difference in a practical way and not theoretically. Thank you to LEAP, Saudi Arabia, and the outstanding judges.”
