Sotheby’s Metaverse Announces Newest and Largest NFT Charity Auction

Sotheby‘s, the world’s oldest art and luxury auction house, has announced a partnership with nonprofit and community health advocate Sostento to auction its latest NFT collection itself through Sotheby’s Metaverse. The auction, called Gifts: Collection 140, is billed as Sotheby’s “Biggest NFT Charity Auction Ever,” with all of the proceeds going to Sostento.

The original NFTs were Gifted from Twitter as part of a raffle for 140 NFTs to 140 random followers in June this year. Its recipients became known as “The Besties”. Now 7 of these besties have decided to sell the full set of 7 NFTs and join Sostento’s health care workers on the front lines in their fight against the Covid-19 pandemic and opioid overdose crisis.

The NFT giveaway follows Twitter CEO Jack Dorsey’s first $ 2.9 million tweet sale on the platform as NFT in March 2021. Proceeds from this special sale supported the donation.

In an announcement shared with Cointelegraph, Cassandra Hatton, Sotheby’s Global Director of Science and Pop Culture said:

“It’s inspiring not just to work with an organization like Sostento, but with a group of beasts who understand the importance of the NFT and use that power for a good cause.”

Sostento’s partners include Supplying Block, which provides a platform for charities, foundations, universities, and religious groups of all sizes to use cryptocurrencies and accept funding.

According to Joe Agoada, CEO of Sostento, the proceeds from this sale will be processed before being “invested directly in fulfilling our mission to help frontline healthcare workers save lives.”

Related: Paris Hilton and Pranksy Collection featured on Sotheby’s new NFT platform

Sotheby’s is the first auction house to introduce a dedicated marketplace for NFTs, Sotheby’s Metaverse. The dedicated platform launched last month will exclusively host all of Sotheby’s NFT sales.

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