A little over a month ago a new website named SteamGifts was launched (the invite code listed is long since invalid). Starting out of the communities from SteamGameSales and the "Play It Forward" subreddit on Reddit, SteamGifts allows users to create and enter in giveaways for Steam gifts/codes. When a giveaway is created, 10% of its value is awarded to all users in the form of points ($1 = 1p). Points can then be used to enter giveaways. A $50 game would generate 5 points and require 50 points to enter, for example. A winner is then picked at random from all the entrants once the entry period has ended.
When this post was written, the SteamGifts community of 4618 members has given 1234 gifts with a total value of $17296.60. I've been a member since almost the beginning, and so far I have won one game, Jamestown, from frequent giveaway creator GLaPOS. I haven't played more than a few levels; I left for home and no desktop shortly after winning, and the Steam summer sale is busy distracting me now. But what I did play was a lot of fun and I look forward to playing more.
I also recently created my first giveaway on the site for two copies of Terraria I had leftover from the 4-pack I purchased. The giveaway will be remain open until Monday, July 11th, at 3:10 PM Eastern Time. There are already 126 entries. I will probably be creating another giveaway for one copy of Sanctum soon too (possibly two copies). If you happen to be a SteamGifts member already, enter while you can.
Update: The giveaway ended and both winners have received their copies. There were 407 entries total.
If you're not a member yet, you will need an invite code. These codes are generated by existing community members at a cost of 50p each. Occasionally special multi-use promotional codes are created by site staff as well. Luckily, I have 1 spare code and Propugnator has 3 spare codes to giveaway. But the SteamGifts community needs good community members; these codes will not be given away randomly.
If you would like a code, convince one of us that you would be a good choice for an invitation. Link to a giveaway you've made somewhere else or a contribution you've made to another community, or write out a great explanation of why you'd really like an invite. Really, anything could work. It's up to you, but anyone trying to purchase or trade something for an invite code will be ignored.