Orange Comet, a pioneering Web3 startup focused on creating immersive non-fungible token (NFT) and metaverse experiences for the entertainment industry, has successfully raised $7 million in an equity funding round. This round saw participation from a blend of existing and new investors, setting the stage for a more significant capital raise planned for later this year.
Orange Comet is a Los Angeles-based startup co-founded in 2021 by prominent figures including TV and film producer Dave Broome, NFL Hall of Famer Kurt Warner, and musicians Gloria and Emilio Estefan. The company specializes in developing cutting-edge Web3 ecosystems for gaming, digital collectibles, and other entertainment-centric experiences.
The company recently completed a funding round where it raised $7 million. This round is part of a broader effort to secure a total of $20 million, as indicated in a filing with the U.S. Securities and Exchange Commission (SEC) dated February 23. The funds were raised through the sale of equity and securities
Orange Comet disclosed this latest funding round in an SEC filing in February and has announced plans for a larger capital round slated for later this year.
Based in Los Angeles, Orange Comet operates at the intersection of technology and entertainment, leveraging the city’s robust media landscape to enhance its development of Web3 applications.
The funding aims to bolster Orange Comet’s capabilities in creating innovative and engaging digital experiences within the Web3 space. According to the company’s president, Will Meris, the capital will support various strategic initiatives, including the development of new technologies and dynamic content that drive fan engagement through novel Web3 ecosystems.
Utilizing the latest in blockchain technology, Orange Comet crafts unique experiences around notable intellectual properties. The company has already collaborated with high-profile personalities and brands such as Anthony Hopkins, NBA Hall of Famer Scottie Pippen, and the television series “The Walking Dead,” showcasing its ability to blend entertainment with cutting-edge technology.
This recent financial milestone highlights Orange Comet’s growing influence in the Web3 arena, particularly within the entertainment sector, as it continues to expand its innovative offerings and partnerships.
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