Animoca Brands has acquired games and collectibles company Somo to expand in the NFT market, Cointelegraph reported on Tuesday.
Through the acquisition, Animoca plans to add playable digital collectibles that can be streamed and traded to its blockchain platform portfolio and strengthen its position in the Web3 entertainment market.
According to CoinGecko data, the global NFT market capitalisation rose about 20 percent in two weeks, breaking above $3 billion from $2.5 billion on Jan. 1. It was assessed as the strongest short-term rebound since a slump that lasted throughout 2025.
The NFT community is citing strength in blue-chip NFTs, an increase in high-priced transactions and new NFT airdrops as reasons for the rebound, Cointelegraph reported.
But compared with an NFT market capitalisation of $7.3 billion on Jan. 14, 2025, it is still down 59 percent year on year.
Chi-gyu Hwang
delight@d-today.co.kr