Key Insights
- Animoca Brands has bought digital collectibles and gaming project SOMO.
- The Web3 leader says it will integrate SOMO into its ecosystem, with SOMO calling the deal an opportunity to amplify its vision.
- The NFT market is up around 20% in 2026, as blue-chip NFTs, such as CryptoPunks and BAYC, see double-digit gains.
Animoca Brands has announced the acquisition of digital collectibles and gaming company, SOMO. The Web3 company disclosed the purchase in a press release, marking its return to deal-making.
The Hong Kong-based company is a leader in the Web3 sector, having invested millions of dollars in non-fungible tokens (NFTs) since its 2022 pivot. Its investments include some of the biggest names in the industry, such as Axie Infinity, Dapper Labs, OpenSea, and Yuga Labs.
Animoca Brands to Integrate SOMO Into Its Ecosystem
According to the announcement of its acquisition, Animoca plans to integrate SOMO products into its Web3 ecosystem. This would bring SOMO digital collectibles and games such as Duel, Battleground, and Codexonn to the Animoca platform.
It noted that the integration will supercharge the SOMO brand, enhancing growth and enabling cross-promotion within the communities. However, the announcement did not mention the amount paid by Animoca for the acquisition.
Speaking on the deal, Animoca chairman Yat Siu said that the company aims to connect the SOMO cultural operating system to its global network.
He said:
“SOMO is building the cultural operating system for collectibles, which complements our existing portfolio. By bringing SOMO into the Animoca Brands ecosystem, we aim to connect it to our global network of games, communities, and partners.”
Meanwhile, SOMO described the deal as an opportunity to take its intellectual property global. In a couple of posts on X, the gaming company said Animoca has the resources to amplify what it started.
However, some users criticized the company for not issuing the SOMO token. The project organized a presale for SOMO back in 2024, but has delayed launching since then, with its post in December stating that the gaming token remains a core priority.
NFT Market Stages Comeback With 20% Gains in 2026
Meanwhile, Animoca Brands’ acquisition comes amidst a positive start to the year for the NFT sector. According to Coingecko, the market capitalization of NFTs has increased by approximately 20% in 2026.
This is driven by major NFTs, such as Cryptopunks and Bored Ape Yacht Club (BAYC), which have seen substantial gains over the past 14 days. The floor price of CryptoPunks is currently above $96,000, representing a 26% increase. BAYC floor price also increased by 56% in the same period, while Pudgy Penguins gained 40%.
In the last 24 hours alone, the market cap for NFTs has increased by 7.57% to reach $3 billion, with CryptoPunk having a 32% dominance. While this is far below the peak value of over $15 billion for the sector in 2022, it represents an improvement from the $2.27 billion reported by December 29.
Interestingly, overall market activity in the sector has been increasing, with 24-hour volume now over $4 million. However, it remains unclear whether this represents a genuine rebound for the NFT sector or merely a dead cat bounce that has influenced the broader crypto market performance.
The post Animoca Buys Somo as NFT Market Rebounds 20% in Early 2026 appeared first on The Market Periodical.