Wicrypt Network Successfully Raises $1.5 Million From Industry Heavyweights!

We are proud to announce Wicrypt’s successful fundraising of $1.5 Million from major Venture Capital firms and prominent entrepreneurs in the crypto/blockchain space. The round was oversubscribed by more than 27x. While we are grateful to everyone who wanted to participate, we have been profitable since 2020 and took a strategic amount to focus on growth.

The round is being led by AU21 Capital, with participation from Polygon founder Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, OneGa Ventures, N7 Labs, and PolkaFoundary. These are some of the most prominent funds of the crypto/blockchain space, with investments in some of the most groundbreaking projects in blockchain technology.

You can read the full press release below:
AFRICA’S FIRST BLOCKCHAIN-BASED WIFI SHARING NETWORK WICRYPT CLOSES STRATEGIC $1.5 MILLION IN FUNDING

Led By AU21 Capital, With Participation From Polygon Founder Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, And Outlier Ventures, Wicrypt Is The First Mobile Internet Data Sharing Platform From Africa Without Need For Third-Party Integration.

NOVEMBER 8, 2021, Enugu, Nigeria — Wicrypt Network, the first standalone blockchain-based WiFi sharing network from Africa, today announced the closing of $1.5 million in funding. The round is being led by AU21 Capital, with participation from Polygon founder Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, and PolkaFoundary. Wicrypt launched in Africa in 2018 as the first peer-to-peer mobile internet sharing network on the continent, before signing an exclusive partnership with the city of Enugu, Nigeria to provide internet service to its citizens. The company was bootstrapped by its founder, before becoming profitable in 2020.

“Investing in an already-profitable company is rare in the blockchain space, but on top of that, Wicrypt is giving people the ability to access the internet in regions where WiFi can be very expensive and unattainable for many people,” said Sandeep Nailwal, Co-founder and COO of Polygon. “By empowering people to share their WiFi and make money, they are making this a win-win situation for all involved, particularly in remote regions where large internet companies are not incentivized to provide coverage.”

Wicrypt allows anyone to download their app and provide WiFi through their mobile device or by purchasing a unique, custom-built Wicrypt Hotspot Creator device. WiFi providers can customize their customer experience through their Wicrypt dashboard, by offering surveys, ads, and collecting customer data. Wicrypt-connected devices are all represented by unique NFTs (Non-Fungible Tokens) that are linked to the blockchain. Data points transmitted through the devices are all represented on the blockchain through the NFTs in real time on the Wicrypt block explorer. While Wicrypt hosts are paid by those accessing WiFi, Wicrypt also incentivizes hosts through its native token, $WNT, for having high device up-time.

“While we have formed substantial business partnerships in Africa, this funding allows us to grow into new countries by increasing our marketing efforts,” said Ugochukwu Aronu, CEO of Wicrypt. “Wicrypt is providing last-mile internet to people of the world who need it, while leveraging the blockchain by having hosts stake $WNT to become a part of the Wicrypt Network. This ensures overall security of the network and that hosts do not perform malicious actions while providing internet connections to clients.”

Find out more about Wicrypt here: https://wicrypt.com/

About Wicrypt Network

Wicrypt is a decentralized mobile internet sharing and monetization network, allowing anyone to get paid for sharing their WiFi. Wicrypt is the first African company to build a peer-to-peer infrastructure for sharing mobile internet data without need for third-party integration. WiFi can be shared via Wicrypt’s custom, affordable Hotspot Creator or mobile devices, while providers can tailor unique experiences, including surveys and ads, while collecting customer data. An already profitable company, Wicrypt has an exclusive partnership with the city of Enugu, Nigeria, to provide last-mile internet service to its citizens.

Wicrypt has an international team with experience working for some of Africa’s largest employers, including KPMG, Chevron, Accenture, Nielsen, and MTN Group, and is headquartered in Enugu, Nigeria.

Wicrypt And Its Smart Features
Wicrypt is a decentralized mobile internet sharing and monetization network where your WiFi networks are “Powered by You’' and not by the traditional intermediaries that have always offered limited mobile data at extremely-high contract rates.

Features For Wicrypt Hotspot Creators:

• Create A Chain Of Hotspot Networks: Wicrypt allows people to create their own hotspot network or chain of hotspot networks while also providing communities with secure access to high-speed internet for free or at any chosen rate.
• Collect Information: Hotspot Creators can collect rich first-party data when users connect to their hotspot network. They can serve advertising, create quizzes, surveys, and forms for network users.
• Monitor Data Usage: Hotspot Creators can add friends, family, employees, or customers to their account through their dashboard, while allocating data, and even monitor the overall consumption and track individual usage.
• Switch Providers: Instead of switching devices for a good connection, you can switch between two connected sim cards with Dual Sim Wicrypt-enabled devices.
• Easy Redemption: Hotspot Creators can receive payments quickly, conveniently, and directly into their wallet accounts any time users connect to their hotspot network and can cash out the earnings on any of your bank accounts. (Members can withdraw all of their revenue to any of their bank accounts.) Receive payments into your wallet account when other users connect to your hotspot network and cash out all of your earnings on any of your bank accounts.
• Recharge Your Data: Hotspot Creators can fund their wallet, automatically top up their data balance at wholesale rates, and gain access to great deals nationwide from different internet service providers.
• NFTs: Each device has a digital representation on the blockchain through NFTs. Each device’s real-time information, data volume transfer and internet speed are represented on the Wicrypt blockchain explorer and world map. It creates an open data network of information and data transfer in different parts of the world on the blockchain.
  The physical device performance will improve the value of the NFT in the virtual space.

We want to thank our investors, partners, our determined team members, and community members for playing an instrumental role in Wicrypt Network’s rapid platform growth. Thank you for choosing and believing in Wicrypt Network.
Stay tuned for the limited Wicrypt Device and rare NFT Sale (Wicrypt-connected devices are all represented by unique NFTs (Non-Fungible Tokens) that are linked to the blockchain. Data points transmitted through the devices are all represented on the blockchain through the NFTs in real time on the Wicrypt block explorer)

About Wicrypt Network
Wicrypt is a decentralized mobile internet sharing and monetization network, allowing anyone to get paid for sharing their WiFi. Wicrypt is the first African company to build a peer-to-peer infrastructure for sharing mobile internet data without need for third-party integration. WiFi can be shared via Wicrypt’s custom, affordable Hotspot Creator or mobile devices, while providers can tailor unique experiences, including surveys and ads, while collecting customer data. An already profitable company, Wicrypt has an exclusive partnership with the city of Enugu, Nigeria, to provide last-mile internet service to its citizens.
Wicrypt has an international team with experience working for some of Africa’s largest employers, including KPMG, Chevron, Accenture, Nielsen, and MTN Group, and is headquartered in Enugu, Nigeria.

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