Animoca Acquires Somo As NFT Market Shows Early 2026 Recovery Signs
Animoca Brands has strategically acquired Somo, a digital collectibles specialist, as the NFT market capitalization surges 20% in early January 2026. The deal positions Animoca to capitalize on renewed interest in blockchain-based entertainment, with trading volumes spiking 18.7% in 24 hours.
Despite the recent uptick, the NFT sector remains 59% below its January 2025 peak of $7.3 billion. Yat Siu, Animoca's co-founder, emphasized Somo's role in building "the cultural operating system for collectibles," aligning with the company's Web3 expansion strategy.
Blue-chip NFT collections are driving the market resurgence, though the broader crypto ecosystem continues navigating post-bull market corrections. The acquisition signals institutional confidence in digital collectibles' long-term viability amid evolving regulatory landscapes.
