Nigerian Web3 startup Wicrypt announced on Dec. 6 that it had received a $150,000 grant from Microsoft. The startup plans to use the grant to improve productivity around its decentralized physical infrastructure network development chain. In late November, Wicrypt also received a $200,000 grant from Google Cloud.
Nigerian Web3 startup, Wicrypt, recently announced that it had received a $150,000 grant from Microsoft to bolster its work developing a decentralized physical infrastructure network (Depin).
We received a $150,000 grant from Microsoft. This grant will go a long way in expanding collaboration and improving productivity around our #DePIN development chain.
— Wicrypt (@wicrypt) December 6, 2023
Depin represents a new way of building and maintaining infrastructure in the physical world, built out in a decentralized way by individuals and companies all over the world for anyone to use. Depins are said to be scalable and more cost-effective than traditional infrastructure networks. Filecoin, Helium, and Iotex are some of the platforms working in this space.
In a post shared on X, the startup commended Microsoft and the Web3 accelerator Outlier Ventures for offering it the opportunity as well as the support.
“We received a $150,000 grant from Microsoft. This grant will go a long way in expanding collaboration and improving productivity around our [Depin] development chain. Thank you Microsoft Azure for the immense opportunity, and thank you Outlier Ventures for the constant support and helping make this happen. We truly appreciate it,” Wicrypt wrote on X.
In an earlier post on X, Wicrypt said it was expanding to the Arbitrum blockchain. It described the decision to leverage the chain’s user base as a “strategic move.”
Wicrypt also received $200,000 from Google Cloud just days before announcing the Microsoft grant.
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