Giving Giveaways

I notice just recently that a lot of bloggers giving giveaways. What is the purpose of this giveaways? I give giveaways beside of wants traffic i just want to share what i have. I read some blogs that one way to get more traffic to your site is also the valuable content of your blog. I believe it is true because i notice people love to read blog post especially if it is interesting one. Even myself i love to read and stop by a blog that have a nice content in it. So i guess i will try my best to do that and plan to delete some blogs that it is not needed anymore.