Sotheby’s announced its collaboration to auction off its latest NFT.
Sotheby’s, the world’s oldest art and luxury auction house, announced its collaboration with the public health care advocate and nonprofit organization Sostento to auction off its latest NFT collection via the Sotheby’s Metaverse. The auction titled Gifted: The 140 Collection billed as Sotheby’s “largest NFT charity auction ever”. With all revenues benefiting Sostento.
Twitter originally gave away 140 NFTs to 140 random followers during a giveaway in June. The recipients dubbed “The Besties”. Now, seven of these Besties have decided to sell the entire set of seven NFTs to help Sostento frontline health care professionals combat the Covid-19 pandemic and the opioid overdose problem.
The NFT giveaway came after Twitter CEO Jack Dorsey sold the first tweet on the network for $2.9 million as an NFT in March 2021. Additionally the money raised from that sale went toward the Covid-19 reaction in Africa.
Cassandra Hatton, Sotheby’s Global Head of Science and Popular Culture, said in a statement to Cointelegraph:
“It’s inspiring to work not only with a nonprofit like Sostento, but also with a group of Besties who understand the importance of their NFTs and are using them to help others.”
Giving Block is one of Sostento’s partners
The Giving Block is one of Sostento’s partners, and it provides a platform for mission-driven charities, organizations, colleges. Additionally faith-based organisations of all kinds to use and accept cryptocurrencies.
According to Joe Agoada, Sostento CEO, the proceeds from this transaction will be processed through the Giving Block. Before investing directly in fulfilling our purpose, which is to enable frontline healthcare professionals to save lives.”
Sotheby’s is the first auction house to introduce Sotheby’s Metaverse, a dedicated marketplace for NFTs. The specialized portal, which was launched last month, will exclusively host all of Sotheby’s NFT sales.