Orange Comet Raises Over $7M in New Funding for NFT Media Play

Los Angeles-based NFT entertainment company Orange Comet, the studio behind Anthony Hopkins’ “The Descendants” NFT collection, raised $7.24 million from selling stock options, according to documents filed with the US Securities and Exchange Commission.

Launched in 2021, Orange Comet lists several high-profile entertainment and sports properties on the digital collectibles site, including Hopkins and collections for AMC’s “The Walking Dead,” “Interview with the Vampire” and “Mayfair Witches.”

“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 could offer Hollywood-style production and storytelling with these capabilities,” Orange Comet co-founder and managing director told director David Broome. Decrypt at this year’s NFT Paris.

Broome explains that Orange Comet aims to appeal to and attract Web3 enthusiasts and newcomers by taking them on the NFT experience.

“How do you first appeal to and attract the core enthusiast already in Web3? By delivering amazing content to them, he said. “A project that has a real roadmap, no nonsense, where they see where something is going, and it’s being built on a larger scale than just the initial launch itself.”

“I want to get the next million in,” Broome said. “That’s the goal.”

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

In October 2022, legendary actor Anthony Hopkins launched his first NFT collection, “The Eternal”, at Orange Comet.

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

As 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, the scammers, the bad artists and everyone else in that category will disappear,” he said. “It’s one of the good things that comes together, because in a market like this, there are opportunities.”

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

“I think it’s broken,” he said. “I think it’s short-sighted in terms of what the blockchain technology is and where it can go.”