Sotheby’s, the world’s oldest art and luxury auction house, Announce It worked with public health care advocates and non-profit organization Sosteno to auction its latest NFT series through Sotheby’s Metaverse. The auction called “Gifted: The 140 Collection” is considered Sotheby’s “the largest NFT charity auction ever”, and all proceeds will be donated to Sosteno.
NFT was originally genius Via Twitter as part Give 140 NFTs to 140 random followers June of this year. Its recipient is called the “best candidate”. Now, 7 of the Besties have chosen to sell a full set of 7 NFTs and support Sosteno’s frontline medical staff in their efforts to fight the Covid-19 pandemic and the crisis of opioid overdose.
NFT giveaways followed closely Twitter CEO Jack Dorsey sold the first tweet on the platform as an NFT for $2.9 million March 2021. The proceeds from this particular sale helped Africa’s Covid-19 response.
In an announcement shared with Cointelegraph, Sotheby’s Global Head of Science and Pop Culture Cassandra Hatton said:
“It is encouraging not only to work with organizations like Sosteno, but also with Besties groups that recognize the importance of their NFTs and use this power for a good cause.”
One of Sostento’s partners is Giving Block, which provides a platform for mission-driven charities, organizations, universities, and faith groups of all sizes to utilize cryptocurrency and receive crypto funds.
According to Sosteno CEO Joe Agoada, the proceeds from the sale will be processed by Giving Block and then “invested directly in fulfilling our mission of helping frontline medical staff save lives”.
Sotheby’s is the first auction house to launch a dedicated NFT market, namely Sotheby’s Metaverse. The dedicated platform was launched last month and will exclusively host all Sotheby’s NFT sales.