Animoca Brands Expands Web3 Presence with Somo Acquisition
Animoca Brands has taken a significant step to strengthen its position in the digital collectibles space and expand its presence in Web3-native entertainment following its acquisition of games and collectibles studio Somo. This strategic move is in line with the recent recovery in the NFT market in early 2026, which saw a strong upswing with the total NFT market cap increasing by about 20% in the first two weeks of the year.
Integration into Animoca’s Web3 Ecosystem
According to the company, Somo will be integrated into Animoca’s broader Web3 ecosystem, expanding its portfolio of blockchain-based platforms to include a range of playable, streamable, and tradeable digital collectibles. This integration is expected to support expansion through cross-promotion, shared infrastructure, and access to Animoca’s global partner network in games, media, and digital assets.
Yat Siu, co-founder and chief executive officer of Animoca Brands, stated, “SOMO is building the cultural operating system for collectibles that complements our existing portfolio. By integrating SOMO into the Animoca Brands ecosystem, we aim to connect it to our global network of games, communities, and partners.”
NFT Market Recovery and Future Prospects
The acquisition comes as the non-fungible token market experienced a strong upswing in early 2026, with data from CoinGecko showing that the total NFT market cap increased by about 20% in the first two weeks of the year, rising from about $2.5 billion on January 1 to over $3 billion by mid-January. However, despite the recent rebound, the sector remains well below its previous highs, with the NFT market cap standing at approximately $7.3 billion, down approximately 59% year-over-year.
Market participants pointed to renewed interest in established NFT collections, a surge in high-value sales, and the release of new token-linked NFT drops as driving the increase. However, some community members questioned whether the rally signals the start of a new cycle or a short-lived bounce after months of compressed valuations.
For more information on Animoca Brands’ acquisition of Somo and the latest developments in the NFT market, visit https://cryptonews.com/news/animoca-brands-acquires-somo-to-expand-web3-collectibles-push/
