Orange Comet, a Web3 startup centered on non-fungible tokens (NFT) and metaverse experiences for the leisure trade, has raised $7 million in an fairness funding spherical that included a mixture of present and new traders, a spokesperson instructed CoinDesk. The firm expects to launch a bigger capital spherical later this yr.

The funding spherical was revealed in a Feb. 23 filing with the U.S. Securities and Exchange Commission (SEC), which confirmed that Orange Comet had raised $7,243,539 of a $20 million goal by means of a sale of fairness and securities.

Los Angeles-based Orange Comet creates know-how and content material that create Web3 ecosystems in gaming, digital collectibles and different experiences constructed round notable entertainment-related mental properties. Past partnerships have included actor Anthony Hopkins, National Basketball Association (NBA) Hall of Famer Scottie Pippen, and the hit tv present “The Walking Dead.”

“Orange Comet is creating unprecedented ecosystems and driving fan engagement in ways never imagined in the world of Web3,” mentioned President Will Meris in an emailed assertion to CoinDesk. “This financing will help us execute on a number of important and exciting initiatives, as we continue to deliver new technology and dynamic content to the market.”

Orange Comet was co-founded in 2021 by tv and movie producer Dave Broome, National Football League (NFL) Hall of Famer Kurt Warner, and musicians Gloria and Emilio Estefan.