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Orange Comet Raises $7M To Revolutionize Entertainment NFTs

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A representative for Orange Comet, a Web3 startup specializing in non-fungible tokens (NFT) and metaverse experiences for the entertainment sector, stated in reports that the company has raised $7 million in an equity investment round from a combination of existing and new investors. Later this year, the business anticipates starting a larger fundraising round.

The U.S. Securities and Exchange Commission(SEC) received a filing from Orange Comet on February 23 that detailed the funding round. The statement disclosed that Orange Comet had raised $7,243,539 of a $20 million target through the sale of equity and securities.

The Orange Comet company in Los Angeles develops technology and content for Web3 ecosystems that are used to generate games, digital collectibles, and other experiences based on well-known entertainment-related intellectual properties. Actor Anthony Hopkins, Hall of Famer Scottie Pippen of the National Basketball Association (NBA), and the popular television program “The Walking Dead” are examples of partnerships from the past.

President Will Meris stated in an email to CoinDesk that Orange Comet is revolutionizing ecosystems and enhancing fan participation in unprecedented ways in the Web3 world. He further added that the funding obtained would enable the company to execute several critical and exciting initiatives, further enhancing the technology and content offered to the market.

In 2021, Gloria and Emilio Estefan, Kurt Warner, and Dave Broome, a television and cinema producer and an NFL Hall of Famer co-founded Orange Comet.

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