Animoca Brands, a major player in Web3 and blockchain gaming, has acquired Somo, a gaming and collectibles studio specializing in playable, streamable, and tradable digital assets. The deal, announced on Wednesday, is a strategic move to expand Animoca's portfolio in Web3-native entertainment and collectibles.
Yat Siu, co-founder and executive chairman of Animoca Brands, stated, "Somo is building the cultural operating system for collectibles, which complements our existing portfolio." He added that the integration aims to connect Somo to Animoca's global network of games, communities, and partners. Animoca plans to leverage its infrastructure and partner network to scale Somo's reach in the NFT and gaming sectors.
The acquisition coincides with a significant rebound in the broader NFT market at the start of 2026. According to data from CoinGecko, the total NFT market capitalization surged approximately 20% in the first two weeks of January. The market cap rose from around $2.5 billion on January 1 to over $3 billion by January 10, marking one of the strongest short-term recoveries in over a year.
A substantial portion of this gain occurred in a single 24-hour period. On January 9, the market added roughly $300 million in value, accompanied by an 18.7% jump in daily trading volume. Market observers attributed the surge to renewed interest in blue-chip NFT collections, a pickup in high-value sales, and the release of new token-linked NFT airdrops.
Despite the positive momentum, the NFT sector remains significantly below its previous peak. The current market cap is down about 59% year-over-year from approximately $7.3 billion in January 2025. This highlights the ongoing correction from the market's previous highs. Community sentiment reflects cautious optimism, with some questioning whether this signals the start of a new NFT cycle or merely a short-lived bounce.
Animoca did not disclose the financial terms of the Somo acquisition or provide specific user growth projections. The move positions the company to potentially capitalize on a continued market recovery, integrating Somo's digital collectibles into its broader blockchain ecosystem.
