Animoca Brands Expands Web3 Gaming Ecosystem With SOMO Acquisition

TheNewsCryptoPublished on 2026-01-14Last updated on 2026-01-14

Abstract

Animoca Brands has acquired Web3 gaming and NFT startup SOMO to expand its digital collectibles ecosystem. The acquisition enables cross-promotion and integration of SOMO’s playable, tradable assets—such as SOMO Codex and SOMO Duel—into Animoca’s global network of games and communities. Yat Siu, co-founder of Animoca, described SOMO as a “cultural operating system for collectibles” that complements their portfolio. Financial terms were not disclosed. The announcement coincides with signs of recovery in the NFT market. According to data, the overall NFT market cap increased by 8.7% in 24 hours to $3.02 billion, with trading volume up 21.5%. Since January 1, 2026, the market cap has risen 20.8%, suggesting a potential rebound after a 66% decline from its peak of $9.2 billion in early 2025.

The Blockchain gaming company Animoca Brands has made a strategical move into the digital collectibles space by acquiring SOMO, a Web3 gaming and NFT startup, while the overall NFT market show signs of recovery in the first two weeks of 2026.

According to the announcement, Animoca Brands is expanding its ecosystem by adding SOMO’s playable, streamable, and tradable digital assets across titles, including SOMO Codex, SOMO Duel, against its flagship SOMO Battleground.

The SOMO brand can benefit from using its current Web3 environment, allowing for cross-promotion and increased community growth. With that, Yat Siu, co-founder and executive chairman of Animoca Brands, added, “SOMO is building the cultural operating system for collectibles, which complements our existing portfolio. By bringing SOMO into the Animoca Brands ecosystem, we aim to connect it to our global network of games, communities, and partners.” However, the Animoca did not reveal the financial details of acquisition so far.

The acquisition announcement coincides with a rise in the NFT market capitalization as a whole, as the overall NFT market cap surged around 8.7% in the last 24 hours, standing at $3.02 billion, and the last day’s trading volume increased 21.5%, reaching $4.27 million. As the acquisition comes in the period where the NFT market cap shows renewed momentum.

NFT market shows early signs of recovery

As per Coingecko data, the global NFT market has shown early signs of a turnaround in 2026, with total market capitalization increasing by 20.8% in the first two weeks of the year. As the NFT market reached roughly $2.5 billion on January 1, currently, it has reached around $3.02 billion, signalling investor interest returned after a decline in 2025.

In last year January, the NFT sector had reached its highest market cap of over $9.2 billion and then, the year-end trading activity slowed, the overall NFT market capitalization dropped to roughly $3.1 billion by December, a 66% drop from its peak.

While the NFT market value is down from its last year’s high, the recent days of market momentum signal a change from the downward trend.

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