Animoca Brands Acquires Somo to Expand Web3 Collectibles Push

Animoca Brands has moved to strengthen its position in digital collectibles after acquiring gaming and collectibles studio Somo, expanding its footprint in Web3-native entertainment.

The company said Wednesday that Somo will be integrated into Animoca’s broader Web3 ecosystem, adding a lineup of playable, streamable and tradable digital collectibles to its portfolio of blockchain-based platforms.

Animoca to Plug Somo Into Global Web3 Partner Network

Animoca plans to support the expansion through cross-promotion, shared infrastructure and access to its global network of partners across gaming, media and digital assets.

“SOMO is building the cultural operating system for collectibles, which complements our existing portfolio,” Animoca Brands co-founder and executive chairman Yat Siu said.

“By bringing SOMO into the Animoca Brands ecosystem, we aim to connect it to our global network of games, communities, and partners.”

The acquisition comes as the non-fungible token market recorded a sharp rebound at the start of 2026.

Data from CoinGecko shows the total NFT market capitalization climbed about 20% in the first two weeks of the year, rising from roughly $2.5 billion on Jan. 1 to more than $3 billion by mid-January.

The move marked one of the strongest short-term recoveries for NFTs in over a year, following a prolonged downturn that weighed on prices and trading activity throughout much of 2025.

Do you remember @playsomo and $SOMO?

They just got acquired by @animocabrands. We’ll see how this plays out.

I’ve yapped about it a lot, and I’ve been waiting almost two years for the presale. But I also have to be honest: around 90% of Animoca Brands portfolio hasn’t really… https://t.co/szroaFPJhW pic.twitter.com/6eaFLMjfbl

— Djani (@DjaniWhaleSkul) January 14, 2026

CoinGecko data indicates that a large share of the gains occurred in a single 24-hour window, when the market added around $300 million in value alongside an 18.7% jump in daily trading volume.

Market participants pointed to renewed interest in established NFT collections, a pickup in high-value sales and the release of new token-linked NFT drops as drivers behind the surge.

However, some community members questioned whether the rally signals the start of a new cycle or a short-lived bounce after months of compressed valuations.

Despite the recent uptick, the sector remains well below its previous highs.

As of now, the NFT market cap stands at approximately $7.3 billion, a decline of about 59% year over year.

Meta Plans Reality Labs Layoffs as Focus Shifts From Metaverse to AI

As reported, Meta is preparing to cut roughly 10% of staff from its Reality Labs division, a move that highlights the company’s growing pivot away from the metaverse and toward artificial intelligence.

The layoffs could affect around 1,500 employees and may be announced as soon as Tuesday, with the cuts expected to fall heavily on teams working on virtual reality hardware and metaverse platforms.

Reality Labs, which employs about 15,000 people, has been a major source of losses for Meta since its launch in 2020.

The unit has accumulated more than $70 billion in losses, including $4.4 billion in operating losses in the third quarter of 2025 alone.

Recent reports suggest Meta is also redirecting some funding from Reality Labs to its wearables business, as well as trimming overall metaverse spending while increasing investment in AI development.

The broader metaverse sector has struggled to meet early expectations, with engagement concentrated in gaming-focused platforms such as Roblox and Fortnite.