According to documents filed with the U.S. Securities and Exchange Commission, Los Angeles-based NFT entertainment firm, Orange Comet, has raised $7.24 million from selling equity options in a funding round.
The company, which creates digital collectibles for high-profile entertainment and sports properties, plans to expand its offering and raise additional capital later this year.
Co-founder and CEO David Broome explain that the company wants to attract newcomers and Web3 enthusiasts to the NFT experience by delivering quality content and building a roadmap to a larger scale than just the initial launch itself.
Orange Comet has previously partnered with National Basketball Association Hall of Famer Scottie Pippen and actors Anthony Hopkins and the “The Walking Dead.” Broome believes that in a bear market and down market, pretenders, scammers, and bad artists will disappear, creating an opportunity.
Orange Comet Co-founder Kurt Warner is an NFL Hall of Famer. The company was co-founded by television and film producer Dave Broome and musicians Gloria and Emilio Estefan.
The Los Angeles-based firm creates technology and content that create Web3 ecosystems in gaming, digital collectibles, and other experiences built around notable entertainment-related intellectual properties.
“Orange Comet is creating unprecedented ecosystems and driving fan engagement in ways never imagined in the world of Web3. This financing will help us execute a number of important and exciting initiatives, as we continue to deliver new technology and dynamic content to the market.”Orange Comet’s spokesperson
Broome believes that the future of the NFTs industry should be non-speculative, where collectors no longer buy NFTs only to flip them to make money.
Co-founder and CEO David Broome explain, “I want to get the next million people in.” Broome adds that the company aims to appeal to fans through quality projects, and a community that engages those fans is as essential as having a triple-A console game.
Orange Comet plans to attract Web3 enthusiasts and newcomers to the NFT experience by delivering quality content and building a roadmap to a larger scale than just the initial launch itself.
In October 2022, Anthony Hopkins launched his first NFT collection, “The Eternal,” on Orange Comet which sold out in just a few minutes.
Orange Comet’s partnerships with Anthony Hopkins, Scottie Pippen, and popular TV shows such as “The Walking Dead” have enabled the company to create Web3 ecosystems in gaming, digital collectibles, and other experiences.
The company’s non-fungible tokens and metaverse experiences are revolutionizing the entertainment industry by driving fan engagement and providing new technology and dynamic content to the market.
Orange Comet’s Co-founders, including NFL Hall of Famer Kurt Warner, bring a wealth of experience to the table. Warner has been vocal about his support for NFTs, and his involvement in Orange Comet highlights the increasing adoption of NFTs by sports stars and athletes.
Orange Comet’s funding round comes as the NFT industry continues to expand rapidly, with more companies and creators exploring the potential of this new market. The use of NFTs has enabled creators to monetize their digital assets in a way that was not previously possible, creating new revenue streams and opportunities for expansion.
With its focus on creating high-quality digital collectibles for entertainment properties, Orange Comet is well-positioned to take advantage of this growing trend. The company’s partnerships with high-profile figures like Anthony Hopkins and Scottie Pippen have helped to establish its reputation in the industry and attract investors.
In addition to its work with individual creators, Orange Comet has also been exploring the potential of the metaverse, an immersive virtual world where users can interact with each other and with digital assets in real-time. This has the potential to revolutionize the way that people consume entertainment, allowing for more interactive and engaging experiences.
Overall, Orange Comet’s success in raising $7 million in funding is a promising sign for the NFT industry as a whole. As more companies and creators explore the potential of this new market, we can expect to see continued growth and innovation in the coming years.
As the industry continues to evolve, it will be important for companies like Orange Comet to remain at the forefront of innovation and creativity. By continuing to explore new opportunities and partnerships, they can help to shape the future of entertainment and establish themselves as leaders in the NFT space.
With its recent funding round, Orange Comet is well-positioned to do just that. By continuing to invest in high-quality content and cutting-edge technology, the company can help to drive the growth and evolution of the NFT industry and create new opportunities for creators and investors alike.
As the industry continues to mature, we can expect to see more companies following in Orange Comet’s footsteps and exploring the potential of this exciting new market.