575 total views
Sostento, a nonprofit that helps frontline public health professionals, will benefit from the proceeds.
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 is considered to be Sotheby’s “biggest NFT charity auction ever,” with all of its proceeds going towards Sostento.
The NFTs were originally given away by Twitter in June as part of a giveaway of 140 NFTs to 140 random followers. The recipients were 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. The money raised from that sale went towards the Covid-19 reaction in Africa.
Cassandra Hatton, Sotheby’s Global Head of Science and Popular Culture, said in a statement:
“It is inspiring to work not only alongside an organization like Sostento, but also with the group of Besties who recognize the significance of their NFTs and are harnessing that power for a good cause.”
The Giving Block is one of Sostento’s partners, and it provides a platform for mission-driven charities, organisations, colleges, and 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 being “invested directly into fulfilling our purpose to enable frontline healthcare professionals save lives.”
Sotheby’s is the first auction house to introduce Sotheby’s Metaverse, a dedicated marketplace for NFTs. The specialised portal, which was launched last month, will exclusively host all of Sotheby’s NFT sales.