Orangekloud Technology Inc. (NASDAQ: ORKT) has signed a non-binding Letter of Intent (LOI) with Orbis Technology Ltd., the parent company behind the popular digital collectibles platform VeVe, to pursue a reverse mergerthat would bring the VeVe business onto a public stock exchange.
Under the terms of the LOI, Orbis co-founders are expected to hold a majority stake in the combined company, while existing ORKT shareholders would become minority owners. Both parties are working toward a definitive agreement by February 28, 2026.
Reverse Merger Pathway
Rather than filing for a traditional initial public offering (IPO), Orbis has selected the reverse merger route, a method where a private company becomes public by merging with an already listed entity. For Orbis, the deal would effectively make VeVe — a leading digital collectibles marketplace — a publicly traded business via Orangekloud’s Nasdaq listing.
Strategic Implications for Orangekloud
Orangekloud’s previous focus was primarily on enterprise digital transformation and technology consulting. The proposed merger would represent a major strategic shift toward digital entertainment, consumer marketplaces and blockchain-driven IP platforms — anchored by VeVe’s user base and licensed content ecosystem.
By bringing VeVe into its corporate structure, Orangekloud could gain exposure to:
Digital collectibles and licensed NFT markets
Consumer engagement platforms across blockchain and Web3
Scalable revenue from virtual goods, royalties and marketplace fees
Ownership Structure and DAOs
According to the LOI, after the merger, Orbis’s founders and early backers would retain control of the combined entity through majority share ownership. ORKT holders would maintain a meaningful position, but with reduced voting influence relative to the new controlling group.
VeVe’s Growth and Market Position
VeVe has grown into one of the most active digital collectible marketplaces — hosting licensed brands across pop culture, comics, movies and games. Its mobile app serves millions of users and bottles scarce digital assets as tradable collectibles across devices and virtual galleries, blending NFT ownership with mainstream fan engagement.
A public listing via reverse merger could help VeVe scale and invest further in platform technology, new brand partnerships and broader consumer finance ventures — such as its recently announced Pengu Card program and other integrations that tie digital ownership to real-world spending.
What’s Next
The LOI sets a deadline of late February 2026 for a binding transaction, after which both companies will determine whether to proceed with the merger and subsequent regulatory filings. Investors and collectors alike are watching closely, as a successful deal would mark a rare public transition for a major digital collectibles brand outside the traditional tech IPO process.
