Singapore firm drives Nigerian wifi start-up's foray into China

Wicrypt, a Nigerian start-up enabling users to create and monetise their own wifi hotspots, has partnered with Singapore-based tech investment firm Onega Ventures to launch its services in China and the broader Asian market. Onega Ventures has become the exclusive distributor of Wicrypt devices in China and will also provide customer support and management services.

Established in 2018, Wicrypt is a Web3 enterprise that utilises blockchain technology to develop a decentralised network of wifi hotspots. Hosts can purchase mobile data in bulk, which in Nigeria can be up to 70% cheaper per unit compared to buying small units of data, and resell that data to others at a fee. Hosts buy a Wicrypt hotspot modem, insert a SIM card with data from any network provider, and begin connecting users. Wicrypt’s devices even work with Elon Musk’s satellite-based internet service, Starlink. For example, a host could integrate a Starlink system with a Wicrypt hotspot and range extender to distribute and sell internet across their entire estate or street. The service could be particularly beneficial in rural areas that are underserved by conventional internet providers. Additionally, hosts can generate revenue by displaying advertisements to their internet users.

Wicrypt provides hosts with software for billing and user management, allowing them the flexibility to set their own rates for each gigabyte of data consumed on their networks. Additionally, hosts mine Wicrypt Network Tokens (WNT), a form of cryptocurrency, whenever a user connects to their network.

The company has expanded to nearly 1,100 hotspots across over 30 countries, serving more than 45,000 accounts and transmitting upwards of 895 terabytes of data. With the support of Onega Ventures, Wicrypt now aims to tap into the Chinese market, offering a novel and cost-effective method of internet access, especially in underserved areas.

Bruno Yu, COO of Onega Ventures, with eight years of investment experience in the blockchain field and extensive expertise in the Chinese tech sector, was one of the early investors in Wicrypt. He has collaborated with the Wicrypt team for two years, with the aim of introducing the company’s solutions to the Chinese market.

 

References

‘How SpaceX’s Starlink benefits Wicrypt’, Wicrypt, 22 December 2021

‘Community collaboration in the digital age: Wicrypt’s role in fostering connectivity’, Wicrypt, 03 July 2022

‘Ugochukwu Aronu has built an internet device that makes you money while you share your wifi’, DABA TV, 23 July 2022

‘Unveiling Wicrypt City WiFi: Empower your community with seamless connectivity’, 04 September 2023

‘Wicrypt comes to China!’, Wicrypt, 13 November 2023

‘Empowering users and marginalized communities by sharing hotspot connections and enabling access to web three’, Crypto Hipster, 17 November 2023

‘WiCrypt partners with Onega Ventures to bring wi-fi monetisation to China’, TechCabal, 24 November 2023