Animoca Brands Acquires Somo to Expand Web3 Collectibles Push

Core Insights - Animoca Brands has acquired gaming and collectibles studio Somo to enhance its position in the digital collectibles market and expand its Web3-native entertainment footprint [1][2][9] Company Strategy - Somo will be integrated into Animoca's broader Web3 ecosystem, adding playable, streamable, and tradable digital collectibles to its blockchain-based platforms [2] - The acquisition aims to connect Somo to Animoca's global network of games, communities, and partners, leveraging cross-promotion and shared infrastructure [3][4] Market Context - The acquisition coincides with a significant rebound in the non-fungible token (NFT) market, which saw a 20% increase in market capitalization from approximately $2.5 billion on January 1 to over $3 billion by mid-January 2026 [4] - The NFT market experienced one of its strongest recoveries in over a year, with a notable $300 million increase in value and an 18.7% rise in daily trading volume within a single 24-hour period [5] - Despite the recent surge, the NFT market cap is still approximately $7.3 billion, reflecting a year-over-year decline of about 59% [7]