ULLU has launched UlluCoin, a utility token to support blockchain-based engagement across its digital ecosystem. ULLU, an OTT platform with over 42 million active users since 2018, is entering the Web3 space with this move. UlluCoin, issued by a new entity, has a maximum supply of 100 billion tokens. This marks ULLU’s shift from Web2 to Web3 as one of the first OTT platforms in India to do so.
Cypher Capital Markets, a Dubai-based venture capital firm focused on blockchain, crypto, and emerging technologies, is part of the early-stage investment round for UlluCoin. The firm has previously invested in Web3 projects and brings industry expertise to support UlluCoin’s entry into the digital asset space.
Harsh Agarwal, investment director, Cypher Capital, says, “At Cypher Capital, we look for projects that combine massive user scale with real-world utility and UlluCoin fits that vision perfectly. We’re excited to back and help UlluCoin scale globally”.
On the launch, Avinash Duggar, CEO of ULLU, said, “This is a big moment for India and for ULLU. We’ve always strived to stay ahead of the curve, empowering users, unlocking new value for creators, and building a smarter entertainment economy.”
He added, “UlluCoin is more than just a token; it’s a full-stack utility ecosystem built on one of the most active OTT platforms in the region. With over 109 million downloads and 42 million active subscribers, ULLU offers native distribution, unmatched engagement, and a powerful use case for real-world blockchain adoption.”
Ganesh Lore of Chainsense stated, “Web3 is our gateway to scaling businesses globally, and ULLU is the perfect example. Chainsense Ltd has joined as UlluCoin’s official Web3 partner, leading blockchain infrastructure, tokenomics, and global expansion.”
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