Abstract: A system for online virtual collections is disclosed. The online collection system having at least one participant, the online collection system comprising an online collection distribution module configured to allocate items to at least one participant. The online collection system having an online collection bank module operatively coupled to the online collection distribution module, the online collection bank module configured to maintain online collectibles in a database of the at least one participant. The online collection system having an online collection exchange module operatively coupled to the online collection distribution module, the online collection exchange module configured to trade online collectibles. The online collection system having an online collection redemption module operatively coupled to the online collection distribution module, the online collection redemption module configured to redeem the online collectibles for prizes.