What Are NFTs and Why Would People Buy Them?

January 2, 2023

What Is An NFT? 

NFT stands for Non Fungible Token. They are called "non-fungible" because they cannot be exchanged for other tokens or assets in a one-to-one manner like how a dollar bill can be exchanged for four quarters.

Simply put, NFTs are things that represent ownership of items or assets.

NFTs are often used for digital collectibles, artwork, and certification for physical assets. In our case (Pudgy Penguins), we’ve seen people buy them for a number of reasons:

  1. To join the community. 

Within the Pudgy Penguins community are people from all over the world, of all ages, cultures, and beliefs. The values of kindness, positivity, and respect are what kept the huddle together through tough winters, and that's why the community is widely known for radiating positive vibes.A lot of people have made meaningful connections through the Pudgy Penguins’ channels, and a number of sub-communities around different interests and passions have formed. PenguPrincesses, an incredible group that focuses on initiatives that uplift women and penguins in Web3, is one prominent example. There are also groups around different regions and languages, fitness, food, gaming, and more.

The Pudgy Penguins huddle is a great place to meet like-minded people and expand your horizons. A lot of people have made meaningful connections through the Pudgy Penguins’ channels.

  1. To enhance one’s digital identity.

Everyone has a collection of things that represent them in an online environment. On social media, one of the first things people notice is your profile picture. By having an NFT as your profile picture, you’re automatically perceived as someone who’s well-versed in crypto and NFTs. 

Since Pudgy Penguins’ inception, people have been using them as their profile pictures on social media platforms such as Twitter, Instagram, and even Linkedin.

  1. To create things with them

Because anyone can resonate with a Pudgy, people have been using them to boost their businesses. People might use their Pudgy Penguin in their marketing campaigns to bring a unique light to their brand identities. 

Also, because of the Pudgys’ nature of being very marketable, people have been creating products starring their penguins. From merchandise to coloring books to posters and billboards, there is no limit to people’s creativity. 

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Pudgy Media is built with for The Huddle

Pudgy Media is built with for The Huddle