Animoca Brands has acquired gaming and digital collectibles company Somo, adding Somo’s playable and tradable collectibles to its broader portfolio of blockchain-based projects.
The company said on Wednesday it plans to integrate Somo into its existing ecosystem, using shared infrastructure and partner relationships. Financial terms of the deal were not disclosed.
Animoca framed the acquisition as a strategic fit with its existing collectibles and gaming investments.
“SOMO is building the cultural operating system for collectibles, which complements our existing portfolio,” said Animoca Brands co-founder and executive chairman Yat Siu.
“By bringing SOMO into the Animoca Brands ecosystem, we aim to connect it to our global network of games, communities, and partners,” he added.
NFT market cap climbs 20% in the first two weeks of 2026
The deal comes as the non-fungible token (NFT) market recorded a short-term uptick early in 2026, with market capitalization rising about 20% in the first two weeks of the year.
The global NFT market cap rose about 20% in the first two weeks of 2026, climbing from $2.5 billion on Jan. 1 to over $3 billion by Wednesday, according to data from CoinGecko.
The move marks a sharp short-term recovery after a prolonged slump that weighed on NFT prices and activity throughout 2025.
CoinGecko shows that a sharp jump between Tuesday and Wednesday accounted for a significant portion of the gains.
On Tuesday, the NFT market cap hovered a little below $2.7 billion before surging to $3 billion in just 24 hours, recording a $300 million gain. This was accompanied by an 18.7% increase in 24-hour trading volume, according to CoinGecko.
A community member attributed the jump to activity in blue-chip NFTs, higher-value sales and token airdrops, though it remains unclear whether the move reflects sustained demand or short-term speculation.
Related: What the NFT Paris cancellation says about the current state of the NFT market
NFTs are still down 59% year-on-year
Despite its recent gains, the NFT sector remains far below its previous cycle highs, underscoring how compressed valuations have become.
On Jan. 14, 2025, the NFT market cap stood at $7.3 billion, which means that despite the recent bounce, the sector is still down by 59% year-on-year.
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