Orange Comet raises over $7 million in new funding for NFT Media Play

March 6, 2023

By Anjali Kochhar

Los Angeles-based NFT entertainment company Orange Comet has raised $7.24 million from selling equity options, according to documents filed with the U.S. Securities and Exchange Commission.

“When I got into the space two and a half years ago, the whole reason I got into it was that I felt like we can offer Hollywood-style production and storytelling with these properties,” Orange Comet co-founder and CEO David Broome told Decrypt.

Broome explains that Orange Comet aims to appeal to and attract Web3 enthusiasts and newcomers, onboarding them onto the NFT experience.

While Broome says that he wants to appeal to fans through quality projects, a community that engages those fans is as essential as having a triple-a console game.

In October last year, legendary actor Anthony Hopkins launched his first NFT collection, “The Eternal,” on Orange Comet.

“What’s interesting is [Hopkins] was so enthusiastic about learning about Web3 himself that he was able to bring the fans in,” Broome says, adding that over 100 people were able to meet with the Oscar winner via Zoom chat.

While the crypto market continues to deal with an ongoing crypto winter, including layoffs and projects going under, Broome says there are opportunities to be had.

“In a bear market and a down market, the pretenders, scammers, bad artists, and everyone else in that category will disappear,” he said. “That is one of the good things that’s connected, because in a market like this, there’s opportunity.”

Broome says the future of the NFTs industry should be non-speculative, where collectors no longer buy NFTs only to flip them to make money.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.

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