TL;DR
Animoca Brands has taken a decisive step to reinforce its position in digital collectibles by acquiring gaming and collectibles studio Somo, a move that expands its reach across Web3-native entertainment. The company said Somo will be integrated into its broader ecosystem, adding playable, streamable, and tradable digital collectibles to its lineup of blockchain-driven platforms. The acquisition arrives at a moment when the NFT market is showing renewed signs of life after a difficult 2025.
Animoca plans to support Somo’s growth through cross-promotion, shared infrastructure, and access to its global network of partners spanning gaming, media, and digital assets. Co-founder and executive chairman Yat Siu said Somo is building a cultural operating system for collectibles that aligns with Animoca’s long-term vision. By bringing Somo into its ecosystem, Animoca aims to connect the studio to a wide network of games, communities, and partners, strengthening its position in the evolving digital collectibles landscape.
The acquisition coincides with a sharp rebound in the NFT market at the start of 2026. CoinGecko data shows total NFT market capitalization climbed about 20% in the first two weeks of the year, rising from roughly $2.5 billion to more than $3 billion by mid-January. The surge marked one of the strongest short-term recoveries in over a year, following a prolonged downturn that weighed heavily on prices and trading activity throughout 2025.
A significant share of the gains occurred in a single 24-hour window, when the market added around $300 million in value alongside an 18.7% jump in daily trading volume. Market participants cited renewed interest in established collections, high-value sales, and new token-linked NFT drops as key drivers. Still, some community members questioned whether the rally represents the start of a new cycle or a temporary bounce after months of compressed valuations.
The broader digital ecosystem is also shifting as Meta prepares to cut roughly 10% of staff from its Reality Labs division, affecting around 1,500 employees. Reality Labs has accumulated more than $70 billion in losses since 2020, including $4.4 billion in operating losses in the third quarter of 2025. Reports indicate Meta is redirecting funding toward wearables and AI development as metaverse engagement remains concentrated in platforms like Roblox and Fortnite.
