Virtual presents only exist digitally. They do not exist in the physical world. Typically they are either emailed or a link to them, is emailed to the recipient.
It appears you can even virtually wrap your virtual gifts. http://www.virtualgifts4u.com/
In reality, virtual gifts are basically knowledge and time, both of which can be extremely valuably. There is a perception anything not physical does not have a value. Yet basically some of the world's largest corporations consist of nothing more than knowledge combined with time, for example Facebook and Google.
All those shown for free no doubout can also be purchased