Signaling Digital Identity: How Perceived Scarcity Outweighs Ownership in NFT-Based Self-Representation

Abstract

In digitally mediated environments, PFP NFTs have become tools for self-expression. This study investigates how perceived scarcity and psychological ownership influence digital self-representation, drawing on Consumer Culture Theory and the extended self. We examine their effects on actual and ideal self-congruity and the digital extended self. Data were collected from 156 individuals who use and own PFP NFTs on social media, using structural equation modeling to test hypotheses. While psychological ownership was high, it did not significantly affect self-congruity or the extended self. In contrast, perceived scarcity significantly predicted all identity-related outcomes. These findings suggest that in digital mediated spaces where social signaling is central, rarity’s symbolic value outweighs the experience of ownership. PFP NFTs appear to shape identity because they are rare and publicly displayed. This study advances understanding of symbolic digital consumption in human–computer interaction and highlights the importance of visibility and distinctiveness in shaping digital identity.

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