Sotheby’s, the world’s oldest art and luxury auction house, has announced it is working with public health care advocate and non-profit organization Sostento to auction its latest NFT collection through the Sotheby’s Metaverse . The auction titled Gifted: The 140 Collection is considered to be “Sotheby’s largest NFT charity auction ever”, with all of its proceeds going to Sostento.
The NFTs were originally gifted by Twitter as part of a 140 NFT giveaway to 140 random followers in June of this year. Its recipients became known as “The Besties”. Now, 7 of those Besties have chosen to sell the full set of 7 NFTs and support frontline health workers in Sostento in their efforts against the Covid-19 pandemic and the opioid overdose crisis.
The NFT giveaway follows Twitter CEO Jack Dorsey’s $ 2.9 million sale of the platform’s first tweet as NFT in March 2021. Proceeds from that particular sale helped the response. of Covid-19 in Africa.
In an announcement shared with Cointelegraph, Cassandra Hatton, Sotheby’s Global Head of Science and Popular Culture, said:
“It’s inspiring to work not only alongside an organization like Sostento, but also with the group of Besties who recognize the importance of their NFTs and harness that power for a good cause. ”
Among Sostento’s partners is the Giving Block, which provides a platform for charities, organizations, universities and faith groups of all sizes to use cryptocurrency and accept crypto funding.
The proceeds of this sale will be processed by the Giving Block, before being “invested directly in fulfilling our mission to help frontline healthcare workers save lives,” according to Joe Agoada, CEO of Sostento .
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Sotheby’s is the first auction house to launch a dedicated NFT marketplace, Sotheby’s Metaverse. Launched last month, the dedicated platform will exclusively host all of Sotheby’s NFT sales.