iWorld
Ullu dives into Web3 with spicy new token, UlluCoin
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.
iWorld
Meta plans 8,000 layoffs in new AI-led restructuring wave
First phase from May 20 may cut 10 per cent workforce amid AI pivot.
MUMBAI: At Meta, the future may be artificial but the cuts are very real. The social media giant is reportedly preparing a fresh round of layoffs, with an initial wave expected to impact around 8,000 employees as it doubles down on its artificial intelligence ambitions. According to a Reuters report, the first phase of job cuts is slated to begin on May 20, targeting roughly 10 per cent of Meta’s global workforce. With nearly 79,000 employees on its rolls as of December 31, the move marks one of the company’s most significant workforce reductions in recent years.
And this may only be the beginning. Sources indicate that additional layoffs are being planned for the second half of the year, although the scale and timing remain fluid, likely to be shaped by how Meta’s AI capabilities evolve in the coming months. Earlier reports had suggested that total cuts in 2026 could reach 20 per cent or more of its workforce.
The restructuring comes as chief executive Mark Zuckerberg continues to steer the company towards an AI-first operating model, committing hundreds of billions of dollars to the transition. Internally, this shift is already visible: teams within Reality Labs have been reorganised, engineers have been moved into a newly formed Applied AI unit, and a Meta Small Business division has been created to align with broader structural changes.
The trend is hardly isolated. Across the tech sector, companies are trimming headcount while investing aggressively in automation. Amazon, for instance, has reportedly cut around 30,000 corporate roles nearly 10 per cent of its white-collar workforce citing efficiency gains driven by AI. Data from Layoffs.fyi shows over 73,000 tech employees have already lost jobs this year, compared with 153,000 in all of 2024.
For Meta, the move echoes its earlier “year of efficiency” in 2022–23, when about 21,000 roles were eliminated amid slowing growth and market pressures. This time, however, the backdrop is different. The company is financially stronger, generating over $200 billion in revenue and $60 billion in profit last year, with shares up 3.68 per cent year-to-date though still below last summer’s peak.
That contrast underlines the shift underway. These layoffs are less about survival and more about reinvention. As Meta restructures itself around AI from autonomous coding agents to advanced machine learning systems, the question is no longer whether the company will change, but how many roles will be left unchanged when it does.
