Ultiverse is a decentralised platform that integrates various decentralised applications (DApps) into a unified ecosystem called Micro Worlds. It enhances user engagement through AI-driven avatars known as Ulti-Pilots, which provide personalised experiences within these Micro Worlds. The native currency of this ecosystem is the $ULTI token, used for various transactions and activities within the platform.

The $ULTI token serves multiple purposes within the Ultiverse ecosystem. It is used for transactions, governance, and economic activities. Users can utilise $ULTI to pay for DApp integrations, purchase in-game assets, and receive compensation for their contributions. Additionally, token holders can participate in governance by voting on key decisions. The token also rewards users for generating valuable data and actively participating in platform activities​.

Ultiverse was founded in 2022 by Frank Ma, Jimmy Liu, and Joe Chou. Frank Ma serves as the CEO, with the team consisting of veterans from the gaming, tech, and blockchain industries. The founding team has significant educational backgrounds from institutions such as Carnegie Mellon University, Tsinghua University, and The Hong Kong University of Science and Technology​.