Sothebey's auction house has teamed up with public health nonprofit Sostento to put on the biggest NFT auction ever, reported Observer Nov. 22.
NFT stands for non-fungible token and can really be anything in the digital space, like a picture of art, a meme or a video. A recent buying frenzy around NFTs has started an evolution from fine art collecting and shifted it virtually.
Now, the auction house and fine art broker Sotheby's has announced an auction of seven Twitter NFTs that will happen between Nov. 22 and Nov. 30. All proceeds will be donated to the public health nonprofit Sostento, which gives back to front-line health workers.
"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," said Joe Agoada, the CEO of Sostento." 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."