There's a story that it originated from the tulip-shaped name badges used by Japanese kindergarteners. Perhaps because of this, it gives off a cute and friendly vibe, softening the situation of introducing oneself.

Beyond simply stating a name, it can also symbolically show that you have a certain role or responsibility. For example, it can be used to wittily express a specific duty, like 'Party organizer for today 📛'. It's also useful for indicating your role in online communities.