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Sotheby’s Metaverse Confirms Latest and Largest NFT Charity Auction

The oldest art and luxury auction house in the world, Sotheby’s, confirmed its partnership with the public health care advocate and nonprofit organization Sostento for auctioning its most recent NFT collection through the Sotheby’s Metaverse.

The auction is known as Gifted: The 140 Collection, and Sotheby’s went to describe it as the “biggest NFT charity auction ever.” All proceeds from the event will go towards Sostento.

The NFTs were initially offered by Twitter as part of a giveaway of 140 NFTs to 140 random followers this summer. Those who received it got the nickname “The Besties.” 7 of those Besties have elected to sell the entire set of 7 NFTs and support Sostento frontline health care working as they battle the COVID-19 pandemic and the opioid overdose crisis.

The NFT giveaway took place after the first-ever tweet was sold as an NFT in March 2021 for $2.9 million. Proceeds from that sale went to helping fight COVID-19 on the African continent.

Sotheby’s Global Head of Science and Popular Culture, Cassandra Hatton, stated:

“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.”

Sostenso has several partners, such as the Giving Block, which offers a platform for mission-driven charities, universities, organizations, and others to use crypto and accept crypto funding.

The proceeds that are raised from this event are to be processed by the Giving Block before being “invested directly into fulfilling our mission to help frontline healthcare workers save lives,” declared the CEO of Sostento, Joe Agoada.

Source: CoinTelegraph.com

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