Animoca’s Somo acquisition expands its digital collectibles strategy as NFTs show early signs of renewed trading activity.
Animoca Brands doubled down on digital collectibles by acquiring gaming and collectibles company Somo, expanding its footprint in Web3-native entertainment and adding Somo’s playable, streamable and tradable collectibles to Animoca’s portfolio of blockchain-based platforms.
The company said Wednesday it plans to integrate Somo into its broader Web3 ecosystem, leveraging cross-promotion, shared infrastructure and its global network of partners to accelerate the growth of the brand.
“SOMO is building the cultural operating system for collectibles, which complements our existing portfolio,” said Animoca Brands co-founder and executive chairman Yat Siu.
