Sotheby's auction resulted in the sale of a colony of endangered <a href="https://www.cryptoknowmics.com/news/ethereums-pudgy-penguins-pfp-nfts-pump-83">Pudgy Penguins</a>. Nearly $129,000 were <a href="https://twitter.com/pudgypenguins/status/1597670411084664832?" target="_blank" rel="nofollow noopener">raised</a> via the sale of 10 <a href="https://www.cryptoknowmics.com/news/binances-first-ever-global-ad-campaign-highlights-ronaldo-nfts">NFTs</a> from the "Snowed In." A Rare Pudgy Penguins Sale collection, which featured numerous rare Pudgy Penguins with characteristics including gold skin and an egg attachment.

https://twitter.com/pudgypenguins/status/1597670411084664832?
<h2>Sotheby's Auction Total</h2>
The median sale price for every NFT was $12,900. It was much higher than the $1,300 base price for the collection at the time. According to the fine arts company, the auction total was exactly in line with pre-sale projections. As a sign of sale participation, winning bidders will be given outbound <a href="https://www.cryptoknowmics.com/news/sec-tries-to-suspend-sale-of-american-cryptofed-dao-tokens">tokens</a>.

Davis Brown, the head of sales for this bidding at Sotheby's, pointed out that despite the market downturn. There has been consistently good participation throughout their NFT sales in recent months, regardless of economic conditions. Since it provides a transparent and objective evaluation of collector interest and establishes new price standards, an auction setting is the finest way to gauge the state of the market, according to Brown.
<h2>Sale of NFTs Through Bidding</h2>
In 2021, the fine arts company began selling NFTs through bidding, buy-now, and generative drops, with the initial sale of NFTs by digital artists occurring in April. In just one collection, 3,000 purchasers spent $16.8 million.

According to Sotheby's estimate, it sold over $100 million worth of NFT throughout the previous year. Additionally, almost 78% of the purchasers were newcomers to Sotheby's, proving that its NFT experience was profitable.

Pudgy Penguins' 'Snowed In' Collection Sold Out at Sotheby's

Nearly $129,000 were raised via the sale of 10 NFTs from the "Snowed In." A Rare Pudgy Penguins Sale collection, featuring numerous rare Pudgy Penguins.

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Pudgy Penguins' 'Snowed In' Collection Sold Out at Sotheby's

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