Orange Comet, a Web3 startup specializing in non-fungible tokens (NFTs) and metaverse experiences for the entertainment industry, has closed a $7 million equity funding round, including existing and new investors. A spokesperson told CoinDesk that the company expects to launch an even larger capital round later this year. According to the February 23 filing with the U.S. Securities and Exchange Commission (SEC), Orange Comet raised $7,243,539 of its targeted $20 million by offering equity and securities.

The Los Angeles-based startup creates technology and content to facilitate Web3 ecosystems in gaming, digital collectibles, and other experiences based on unique entertainment intellectual properties such as Anthony Hopkins, National Basketball Association (NBA) Hall of Famer Scottie Pippen, and the hit television show “The Walking Dead.”

President Will Meris said in a statement: “Orange Comet is creating unprecedented ecosystems and driving fan engagement in ways never imagined in the world of Web3. This financing will enable us to execute several important and exciting initiatives as we continue to deliver new technology and dynamic content to the market.” Co-founded by Dave Broome (television and film producer), National Football League (NFL) Hall of Famer Kurt Warner, and musicians Gloria & Emilio Estefan in 2021, Orange Comet is undoubtedly an innovative force to be reckoned with, and it is set to revolutionize the web3 space.