MUMBAI: Ullu, the OTT platform that made a name for itself with bold originals and a 42-million-strong user base, is now spicing things up in the crypto world. The streamer has officially launched UlluCoin, its own utility token, marking its first big leap into the Web3 space.

Minted with a max supply of 100 billion tokens, UlluCoin aims to power immersive experiences and engagement across Ullu’s expanding digital ecosystem. The token is issued by a newly floated entity and signals the platform’s evolution from Web2 to decentralised, blockchain-enabled interaction, a move few Indian entertainment players have dared to make.

Backing the venture is Cypher Capital Markets, the Dubai-based VC heavyweight with a taste for emerging tech and crypto. Known for placing early bets on Web3 winners, Cypher brings serious clout and capital to Ullu’s blockchain ambitions.

Cypher Capital investment director, Harsh Agarwal 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, Ullu CEO Avinash Duggar 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 Ltd. 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.”

With UlluCoin, the streaming rebel now wants to become a Web3 disruptor. Entertainment, meet decentralisation.