Animoca Acquires Somo As NFT Market Grows 20% In Early 2026

TLDR

• Animoca acquires Somo to grow its Web3 entertainment and collectibles portfolio
• NFT market cap rose 20% in early January 2026, reaching over $3 billion
• Trading volume jumped 18.7% in 24 hours, with major blue-chip NFT sales
• NFT market still down 59% year-on-year from January 2025’s $7.3 billion peak

Animoca Brands has taken a major step in expanding its Web3 footprint by acquiring Somo, a company known for its playable and tradable digital collectibles. This move comes just as the NFT market shows early signs of recovery in 2026, with a 20% rise in market capitalization within two weeks. As trading volume climbs and interest in blue-chip NFTs returns, Animoca aims to strengthen its position in blockchain-based entertainment.

Animoca Strengthens Web3 Position with Somo Acquisition

Animoca Brands has acquired Somo, a gaming and collectibles company focused on streamable and tradable digital assets. The move is part of Animoca’s larger effort to grow its presence in the Web3-native entertainment industry. The company announced the deal on Wednesday, describing Somo as a strategic fit for its existing platforms.

Yat Siu, co-founder and executive chairman of Animoca Brands, said the acquisition supports the company’s long-term vision. “Somo is building the cultural operating system for collectibles, which complements our existing portfolio,” he said. Animoca plans to integrate Somo’s features and assets into its current blockchain ecosystem.

The company also aims to use its existing network of global partners to scale Somo’s reach and visibility in the NFT and gaming space. It will focus on combining infrastructure and community support across platforms to grow the brand.

NFT Market Sees Early 2026 Recovery

The acquisition comes as the NFT market shows early signs of recovery following a weak performance throughout 2025. According to data from CoinGecko, the total NFT market capitalization rose about 20% in the first two weeks of 2026.

On January 1, the market cap stood near $2.5 billion and grew to more than $3 billion by January 10. This marks one of the strongest short-term recoveries the market has seen in more than a year.

A large portion of the gains occurred in a single day. On Tuesday, January 9, the market cap was slightly below $2.7 billion, before rising to $3 billion in 24 hours. CoinGecko reported a $300 million gain and an 18.7% increase in 24-hour trading volume.

Blue-Chip NFTs and New Airdrops Drive Growth

The sharp rise in market activity has been linked to a few major events. Some community members on social platform X credited the movement to strong performance from blue-chip NFTs, which are typically more established and higher in value.

Increased high-value sales and new NFT airdrops also contributed to the rise. These trends often lead to renewed interest from traders and collectors, especially after a long period of weak performance.

One community member posted, “We’ve seen this pattern before. Is 2026 the next NFT cycle or just a fake bounce?” suggesting that some investors remain cautious despite the gains.

NFT Sector Still Below Peak Despite Growth

Although the market is showing growth, the sector remains far from its previous highs. On January 14, 2025, the NFT market cap was around $7.3 billion. This means the current level is still down by about 59% year-over-year.

This drop highlights the ongoing correction in the digital collectibles market after its peak. Despite the rebound, many NFTs are still trading below their historical prices, and trading activity remains uneven across platforms.

Animoca’s acquisition of Somo could position it to benefit if the market continues to recover. However, the company did not provide financial details of the deal or projections on expected user growth.

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