Carlos Fernandes Nigerian Web3 startup, Wicrypt, disclosed on December 6th that it had secured a substantial grant of $150,000 from Microsoft to further enhance its efforts in developing a decentralized physical infrastructure network known as Depin.
Depin, which stands for decentralized physical infrastructure network, represents an innovative approach to constructing and maintaining physical infrastructure globally. This approach relies on contributions from individuals and companies worldwide, making it accessible for widespread use. Depin networks are lauded for their scalability and cost-effectiveness compared to conventional infrastructure systems. Notably, various platforms like Filecoin, Helium, and Iotex are actively engaged in this domain.
Wicrypt expressed its gratitude towards Microsoft and the Web3 accelerator Outlier Ventures for their support and the valuable opportunity provided. In their announcement, Wicrypt emphasized the significance of the $150,000 grant from Microsoft, which is poised to significantly enhance collaboration and productivity within their Depin development chain. They expressed their appreciation to Microsoft Azure for this significant opportunity and also acknowledged the continuous support extended by Outlier Ventures.
Furthermore, in a prior announcement on a platform marked as ‘X’, Wicrypt revealed its expansion to the Arbitrum blockchain, considering it a strategic move to leverage the chain’s substantial user base. This strategic decision aligns with Wicrypt’s growth strategy.
It’s noteworthy that Wicrypt had received another substantial grant of $200,000 from Google Cloud shortly before announcing the Microsoft grant, indicating growing interest and support for the startup’s endeavors in the Web3 space.
For more insights or to share your thoughts on this development, please feel free to contribute in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about Decentralized Infrastructure Network
What is Wicrypt, and what does it do?
Wicrypt is a Nigerian Web3 startup focused on developing a decentralized physical infrastructure network known as Depin. Depin reimagines how physical infrastructure is built and maintained, allowing contributions from individuals and companies worldwide, making it more scalable and cost-effective compared to traditional networks.
What was the grant received from Microsoft for?
Wicrypt received a $150,000 grant from Microsoft to enhance its efforts in developing the Depin infrastructure network. This grant is aimed at improving collaboration and productivity within the Depin development chain.
Who else has supported Wicrypt?
Wicrypt also received a $200,000 grant from Google Cloud, indicating significant interest and support for their Web3 initiatives. Outlier Ventures, a Web3 accelerator, has also been a valuable supporter of Wicrypt.
Why did Wicrypt expand to the Arbitrum blockchain?
Wicrypt’s expansion to the Arbitrum blockchain is described as a “strategic move” to tap into the user base of the Arbitrum network, aligning with their growth strategy in the Web3 space.
What are the key benefits of Depin and how does it work?
Depin offers a decentralized approach to building and maintaining physical infrastructure, making it accessible globally. It leverages contributions from individuals and companies, resulting in scalability and cost-effectiveness. This innovative approach represents a paradigm shift from traditional infrastructure networks.
More about Decentralized Infrastructure Network
- Wicrypt Official Website
- Microsoft Azure Grants
- Outlier Ventures – Web3 Accelerator
- Google Cloud Grants
- Arbitrum Blockchain
4 comments
gr8 news 4 Wicrypt. they got $150,000 frm Microsoft & $200,000 frm Google Cloud. good 4 their Depin project. makin infrastrcture decentralized. huge!
Outlier Ventures also helpin Wicrypt. Web3 accelrator. gr8 2 c big players supprt. Keep it up!
Depin = cost-effective infrastrcture. Scalable 2. Excitin news 4 tech world. #Web3 #Innovation
Wicrypt expandin 2 Arbitrum, smart move. More user base. Depin is nxt lvl infrastrcture. Blockchain ftw!