A colony of rare Pudgy Penguins have sold out in an auction held by Sotheby's.

The "Snowed In: A Rare Pudgy Penguins Sale" collection of ten NFTs brought in almost $129,000, with the pieces on offer including several rare Pudgy Penguins featuring traits such as gold skin and an egg accessory.

The average sale price of $12,900 for each NFT was well above the collection's current floor price of $1,300. The sale total was firmly within the pre-sale estimate, Sotheby's said. Winning bids will receive soulbound tokens as proof of participation in the sale.

Despite the bear market, Davis Brown, Sotheby’s head of sale for this auction, said it had "consistently seen strong participation across our NFT sales in recent months, irrespective of market conditions."

(By Callan Quinn)