This study explores co‐creative gift systems within digital platforms. We define co‐creative gift systems as systems where consumers actively engage in content creation and co‐creation, disseminating original artistic digital gifts (i.e., content such as novels, videos, music) on digital platforms and engaging in collaborative exchanges that shape the work in progress. Using a qualitative methodology, including netnography and guided introspections, we analyze 3 years of netnographic data on Wattpad, a platform for developing and publishing written fiction. Our findings reveal the building of varying relational ties within the gift system, from casual interactions to deep connections that foster communities of practice and fandoms, and fluid role transitions between givers and recipients. These interactions and transitions impact the development of the digital gift through editorial support, narrative co‐creation, and independent reviews. This study contributes to the literature on gift giving by emphasizing the role of co‐creative gift systems in enhancing digital community interactions and content co‐creation. Future research directions are suggested to further explore co‐creative gift systems across various digital platforms and their implications for consumer research and digital content production.