Animoka Brands has acquired Somon in 2026 as an NFT market recovery
Animoka Brands has acquired gaming and digital collectibles company Somo, adding blockchain-based projects to its extensive portfolio.
The company said on Wednesday that it plans to integrate Somo into its existing ecosystem using shared infrastructure and partner relationships. Financial terms of the deal were not disclosed.
Animoca sees the acquisition as a strategic fit with its existing collectibles and gaming investments.
“SOMO is building a custom system for collectors, which complements our portfolio,” said Yat Siu, founder and executive chairman of Animoka Brands.
“We aim to bring SOMO into the Animoka Brands ecosystem and connect it with the world of games, communities and partners,” he added.
In the year In the first two weeks of 2026, the NFT market cap rose by 20%.
The deal comes as the non-volatile token (NFT) market is experiencing a short-term boom in early 2026, with market capitalization rising nearly 20% in the first two weeks of the year.
The global NFT market cap rose nearly 20% in the first two weeks of 2026, rising from $2.5 billion on Jan. 1 to more than $3 billion as of Wednesday, according to data from CoinGecko.
The move signals a sharp short-term recovery after a long-term decline, weighing on NFT prices and 2025 activity.
CoinGecko attributes the sharp jump between Tuesday and Wednesday to the gains.
On Tuesday, the NFT's market cap hovered below $2.7 billion before rising to $3 billion within 24 hours, posting a $300 million gain. This was accompanied by an 18.7% increase in 24-hour trading volume, according to CoinGecko.
One community member attributed the jump to activity in blue-chip NFTs, high-value sales and token airdrops, although the move does not reflect sustained demand or short-term speculation.
Related: What the NFT Paris Cancellation Says About the Current State of the NFT Market
NFTs are still down 59 percent year-to-date
Despite recent gains, the NFT sector is well below previous cyclical highs, highlighting just how compressed valuations are.
On January 14, 2025, the NFT market value stood at $7.3 billion, which means that despite recent growth, the sector is still down 59% annually.
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