Animoca Brands has announced the acquisition of digital collectibles company SOMO, with the purchase price left undisclosed. The company said the deal gives Animoca full access to SOMO’s flagship collectible products, while both sides are expected to use shared resources to expand their ecosystems. Animoca will back the growth of SOMO’s offerings, and SOMO’s cultural infrastructure and community reach are set to add to Animoca’s broader portfolio.
Yat Siu links SOMO to Animoca’s global network
Animoca Brands CEO and co-founder Yat Siu said the company is executing a long-term global strategy. He described SOMO as a builder of a “cultural operating system for collectibles,” adding that the business complements Animoca’s existing portfolio. By bringing SOMO into the Animoca ecosystem, he said, the company intends to connect it with its global network of games, communities, and partners.
Key deal terms remain limited at this stage. Animoca did not disclose the acquisition amount, and it also did not say whether the transaction would involve staff restructuring or layoffs. Even with those details absent, the announcement lands at a time when crypto industry M&A activity has picked up.
Crypto M&A activity expands across the sector
Recent weeks have brought several transactions across the market. Bancorp confirmed ongoing activity tied to plans to acquire BTIG in a deal valued at about $1 billion. Bakkt also completed its acquisition of DTR for $168 million as part of a strategy focused on expanding stablecoin-related services. Taken together, these deals point to a consolidation push centered on scale, infrastructure, and regulatory positioning ahead of a new growth phase.
NFT market capitalization rises to $3.02 billion
The timing of the SOMO acquisition also lines up with a recovery in NFTs and digital collectibles. At the time of reporting, total market capitalization for NFTs and collectibles had increased 3.57% to around $3.02 billion, its highest level since December 12. The market had been stuck in a downtrend before this rebound started to lift valuations.
Liquidity, however, remains concentrated. CryptoPunks still leads the sector with roughly 31% of total NFT market capitalization, showing that the recovery is not evenly spread across collections. Capital is returning, but the biggest share remains parked in the most established names.
Bitcoin above $96,880 supports broader market recovery
The wider crypto market is recovering as well. Total crypto market capitalization has climbed 4.27% to about $3.26 trillion, reflecting renewed demand for large-cap assets. Bitcoin drew notable inflows after moving above $96,880, while Ethereum advanced to roughly $3,353. Stronger conditions in major tokens have improved market structure and steadied volatility, creating a better backdrop for NFT and digital collectible activity.
Capital rotation is still limited. The altcoin season index stands at 28, a low reading that suggests most funds are still concentrated in Bitcoin rather than shifting into alternative crypto assets. The report said a sustained move toward 70 would point to broader rotation into altcoins, which could add support to NFTs and digital collectibles.