India’s one of the most popular OTT platforms, Ullu, has launched Ullucoin, making its 1st step towards the Web3 landscape. The launch of this utility intent at powering blockchain led engagement on its platform.
In a X post dated July 17, 2025, Ullu said, “ With the official launch of UlluCoin, ULLU steps into the Web3 era, becoming one of the first major Indian OTT platforms to merge entertainment with blockchain technology. UlluCoin is designed to power a smarter, more rewarding digital ecosystem, empowering fans, unlocking new revenue opportunities for users, and reshaping how content is experienced.”
Further reads that, “ With over 42 million active users, ULLU has always led from the front with bold stories and fearless innovation. Now, it’s redefining what it means to stream, connect, and engage.”
As per more information from Inc24(dot)com, Ullu said in the statement that this is issued by a newly established entity, Ullucoin, which has a maximum supply of 100 Bn tokens, laying the foundation for a new phase within the Ullu universe.
Following this development, Ullu’s Chief Executive, Avinash Duggar, said, “ 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 Mn downloads and 42 Mn active subscribers, ULLU offers native distribution, unmatched engagement, and a powerful use case for real-world blockchain adoption.”
How will Cypher Capital Market help Ullu in this early phase?
A Dubai-based venture capital firm, Cypher Capital Market, focused on blockchain and emerging technologies, is supporting Ullucoin and the Ullu platform through strategic early-stage investment and ecosystem development.
It is providing crucial funding to the Ullucoin launch, enabling the development and scaling of Ullucoin infrastructure. With expertise in blockchain and crypto, Cypher offers mentorship to Ullu, helping redefine the Ullucoin utility-driven ecosystem.
This development will help Ullucoin to leverage the network and industry expertise to expand globally, yet Ullu’s goal is to attract international users, particularly the crypto-savvy audiences.
Will Ullu’s move pave the way for an Indian platform to enter Web3?
The announcement of Ullucoin is expected to inspire other platforms and companies, especially in the entertainment industry, because the massive user base Ullu holds provides a ready audience for Web3 adoption, demonstrating how tokenized ecosystems can enhance engagement.
However, India’s crypto policies remain stringent, and platforms must ensure compliance to avoid legal hurdles, yet Ullucoin could catalyse similar moves by competitors, particularly in entertainment, by showcasing how blockchain can enhance user engagement.
Market experts argue that, in the near future, there are expectations of many more companies launching their utility coin and shifting to blockchain.
