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Sotheby’s metaverse announces the largest NFT auction

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.

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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.

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Michelle D. Madsen

Michelle D. Madsen graduated from the University of Westminster and has been deeply involved in the world of finance ever since. She has worked as a Broadcast Journalist hosting various news shows and informative webcasts about the financial markets. Since 2004 she has also been writing for Metanews daily, her attention to detail, and her in-depth knowledge of the financial markets have led her to cover Foreign Exchange and commodities. The world of finance has changed in the last few years with the introduction and rising popularity of cryptocurrencies. She has in no means been left behind, adding this to her bank of intellect and is now also an expert in cryptocurrencies. For the last ten years, Ms. Madsen has been engaged in the financial market. She has notedly written a great number of incredibly informative reviews for the crypto exchange and forex brokers. Her wealth of knowledge has enabled her to become a leading expert in the field. She continues to inform the public writing up-to-date, thorough reviews for the readers of Metanews as she has for the last decade.
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