Animoca Brands is making significant strides in the digital collectibles space with its recent acquisition of Somo, a gaming and collectibles company. This move not only enhances Animoca's presence in Web3 entertainment but also enriches its portfolio with Somo's innovative collectibles, as enthusiastically stated in the publication.
Acquisition Announcement
The acquisition was announced on Wednesday, with plans to integrate Somo into Animoca's expansive Web3 ecosystem. This integration aims to utilize cross-promotion and shared infrastructure, tapping into Animoca's extensive global network of partners to foster brand growth.
Strategic Fit and Future Goals
Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the strategic fit of Somo within their existing offerings. He stated, 'Somo is building the cultural operating system for collectibles, which complements our existing portfolio.' The goal is to connect Somo with Animoca's vast array of games, communities, and partners. This will further solidify its position in the digital collectibles market.
In a recent development, Frogana announced a partnership with 3Look to enhance user engagement through innovative NFT content creation. This collaboration follows Animoca Brands' acquisition of Somo, highlighting the growing trend of integrating creativity in the digital collectibles space. For more details, see read more.
