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Crypto News

Wicrypt, a Nigerian Web3 Startup, Receives Grants from Microsoft and Google Cloud

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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Wicrypt, a Web3 startup based in Nigeria, has recently garnered significant support from tech giants Microsoft and Google Cloud. On December 6, Wicrypt announced receiving a $150,000 grant from Microsoft, following a $200,000 grant from Google Cloud in late November. These grants are set to propel the startup’s development of a decentralized physical infrastructure network (Depin).

Depin represents a novel approach to constructing and maintaining physical infrastructure. It involves a decentralized framework where individuals and companies worldwide build infrastructure accessible to all. This method is considered more scalable and cost-effective than traditional infrastructure networks. Other platforms operating in this space include Filecoin, Helium, and Iotex.

In a post shared on X, Wicrypt expressed gratitude for the support and opportunity provided by Microsoft and the Web3 accelerator Outlier Ventures. The startup emphasized that the grant from Microsoft would significantly aid in expanding collaboration and boosting productivity around its Depin development chain.

“We received a $150,000 grant from Microsoft. This grant will greatly expand collaboration and improve productivity around our [Depin] development chain. Thank you Microsoft Azure for the immense opportunity, Outlier Ventures for the constant support and helping make this happen. We truly appreciate it,” Wicrypt stated on X.

Additionally, Wicrypt revealed in an earlier post on X that it was expanding to the Arbitrum blockchain. Describing this as a strategic move, the startup aims to leverage the chain’s user base to further its objectives.

The backing from industry leaders like Microsoft and Google Cloud underscores Wicrypt’s potential in the Web3 space and highlights the growing interest in innovative infrastructure solutions within the tech industry. These grants will be crucial in advancing Wicrypt’s mission in the burgeoning field of decentralized infrastructure.