Animoca Brands has reinforced its focus on digital collectibles through the acquisition of gaming and collectibles company Somo. The move broadens Animoca’s presence in Web3-native entertainment and brings Somo’s playable, streamable and tradable collectibles into Animoca’s wider portfolio of blockchain-based platforms.

The company said on Wednesday that Somo will be integrated into its broader Web3 ecosystem, with plans to use cross-promotion, shared infrastructure and Animoca’s global partner network to support the brand’s expansion.

“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.”

NFT market shows early signs of recovery

The acquisition coincides with a renewed uptick in the non-fungible token market at the start of 2026. According to data from CoinGecko, total NFT market capitalization rose by about 20% in the first two weeks of the year, increasing from roughly $2.5 billion on Jan. 1 to more than $3 billion by Wednesday. This rebound represents one of the strongest short-term recoveries for NFTs in over a year, following a prolonged downturn that weighed on prices and activity throughout much of 2025.

CoinGecko data indicates that a sharp move between Tuesday and Wednesday accounted for a large share of the gains, with market capitalization jumping from just under $2.7 billion to $3 billion in a 24-hour period. Trading activity also picked up, with 24-hour volume rising by nearly 18.7%.

One community member linked the move to strength in blue-chip NFT collections, a rise in high-value sales and new NFT projects distributing tokens. “We’ve seen this pattern before. Is 2026 the next NFT cycle or just a fake bounce?” the user wrote on X.

Valuations remain well below past highs

Despite the recent rally, the NFT sector is still trading far below its previous cycle peaks, highlighting how compressed valuations remain. On Jan. 14, 2025, the total NFT market cap was around $7.3 billion. Even after the early-2026 rebound, that places the sector roughly 59% lower on a year-on-year basis, underscoring the distance still separating current levels from prior highs.

Sources:

https://cointelegraph.com/news/animoca-brands-acquires-somo-nft-market-rebound-2026

https://www.animocabrands.com/animoca-brands-acquires-somo

https://x.com/MintKingX/status/2011351065279807743