By: Amy Rosner By: Amy Rosner | November 22, 2021 | culture
In what is poised to become one of the most high-impact NFT charity auctions ever staged, Sotheby’s is teaming up with public health care advocate and nonprofit organization Sostento for Gifted: The 140 Collection.
This one-of-a-kind charity auction features seven unique NFTs originally minted and gifted by Twitter earlier this year.
Earlier this year in June, Twitter unexpectedly tweeted to its 60 million-plus followers “140 free NFTs for 140 of you, besties,” and thus, The 140 Collection was born.
Seven unique NFTs available in editions of 20 were given away randomly to users who replied to Twitter, and the recipients of the NFTs became known as “The Besties.”
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The NFTs present a series of creative iterations that illustrate the many facets of Twitter, from the first designs of its logo to its former 140-character limit, among others, which highlight the Twitter community and the unique culture of the platform.
The NFT giveaway by Twitter followed Twitter CEO Jack Dorsey’s sale of the first tweet ever on the platform as an NFT in March 2020, when it sold for $2.9 million.
Dorsey donated the proceeds from the sale to aid the Covid-19 response in Africa, and the same charitable spirit infuses the seven Besties participating in Gifted, who have elected to pay it forward and support a good cause.
This special auction would not be possible without the support of partners such as The Giving Block, which provides a platform for mission-driven charities, organizations, universities, and faith-based groups of all sizes to utilize cryptocurrency and accept crypto funding.
Pat Duffy, Co-Founder of The Giving Block, said: “We are so proud to be partnering with Sotheby’s, Sostento, and others to make this event possible. So many charitable causes are not equipped to accept cryptocurrency and we are thrilled to provide that service. Together, we are all changing the world for the better.”
Now, these seven lucky strangers have united to sell the full set of seven NFTs with proceeds aiding Sostento and its critical mission in supporting front-line health workers save lives and the organization’s long-term effort to end the Covid-19 pandemic and the opioid overdose crisis.
Cassandra Hatton, Sotheby’s Global Head of Science and Pop Culture, commented: “I was very proud to be part of Sotheby’s MayDay charity auction in May 2020, which raised nearly half a million dollars for Covid-19 relief at the beginning of the pandemic. It is inspiring to work not only alongside an organization like Sostento but also the group of Besties who recognize the significance of their NFTs and harnessing that power for a good cause…”
Since launching its debut NFT sale in April 2021, Sotheby’s has emerged as a leader in bringing the most valuable and rare NFTs to market. Sotheby’s is the first auction house to launch a dedicated marketplace for NFTS, called Sotheby’s Metaverse.
The collaboration with Sostento highlights the growing importance of NFTs in broader cultural moments and events, leveraging the digital creations of a social media giant to support one of the most important causes of our time.
Joe Agoada, Sostento CEO, said: “Over the past 18 months, since the onset of the Covid-19 pandemic, it has become increasingly urgent that the demand for support from frontline healthcare workers was far outpacing the traditional means of providing it.”
“The genesis of this sale is from our exploration of NFTs as a way to bridge that gap, and it is incredibly exciting to work side-by-side with Sotheby’s in bringing together the NFT community in the spirit of giving for our healthcare heroes, and it’s all happening on the biggest stage possible. Proceeds raised from this sale will get processed by Sostento’s partner the Giving Block and then invested directly into fulfilling our mission to help frontline healthcare workers save lives.”