The post Animoca Brands Expands Web3 Gaming Ecosystem With SOMO Acquisition appeared on BitcoinEthereumNews.com. Animoca Brands acquired SOMO, expanding its Web3The post Animoca Brands Expands Web3 Gaming Ecosystem With SOMO Acquisition appeared on BitcoinEthereumNews.com. Animoca Brands acquired SOMO, expanding its Web3

Animoca Brands Expands Web3 Gaming Ecosystem With SOMO Acquisition

  • Animoca Brands acquired SOMO, expanding its Web3 ecosystem by adding SOMO’s NFT gaming assets.
  • The NFT market showed a short-term recovery of 20% increase in the first two weeks of 2026.

The Blockchain gaming company Animoca Brands has made a strategical move into the digital collectibles space by acquiring SOMO, a Web3 gaming and NFT startup, while the overall NFT market show signs of recovery in the first two weeks of 2026.​

According to the announcement,  Animoca Brands is expanding its ecosystem by adding SOMO’s playable, streamable, and tradable digital assets across titles, including SOMO Codex, SOMO Duel, against its flagship SOMO Battleground.​

The SOMO brand can benefit from using its current Web3 environment, allowing for cross-promotion and increased community growth. With that, Yat Siu, co-founder and executive chairman of Animoca Brands, added, “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.” However, the Animoca did not reveal the financial details of acquisition so far. ​

The acquisition announcement coincides with a rise in the NFT market capitalization as a whole, as the overall  NFT market cap surged around 8.7% in the last 24 hours, standing at $3.02 billion, and the last day’s trading volume increased 21.5%, reaching $4.27 million. As the acquisition comes in the period where the NFT market cap shows renewed momentum.​

NFT market shows early signs of recovery

​As per Coingecko data, the global NFT market has shown early signs of a turnaround in 2026, with total market capitalization increasing by 20.8% in the first two weeks of the year. As the NFT market reached roughly $2.5 billion on January 1, currently,  it has reached around $3.02 billion, signalling investor interest returned after a decline in 2025.

​In last year January, the NFT sector had reached its highest market cap of over $9.2 billion and then, the year-end trading activity slowed, the overall NFT market capitalization dropped to roughly $3.1 billion by December, a 66% drop from its peak.

​While the NFT market value is down from its last year’s high, the recent days of market momentum signal a change from the downward trend.​

Highlighted Crypto News Today:

Russia Prepares New Crypto Law Allowing Daily Use With Strict Retail Limits

Source: https://thenewscrypto.com/animoca-brands-expands-web3-gaming-ecosystem-with-somo-acquisition/

Market Opportunity
AINFT Logo
AINFT Price(NFT)
$0.0000003637
$0.0000003637$0.0000003637
-1.22%
USD
AINFT (NFT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.