Yes. You can set up and sell gift cards like you would any other store product. You can either create a gift card of a set amount or let fans name the price.
A unique gift card code will be generated for each card purchased and will appear on the customer's receipt. Upon completing their purchase, customers have the option to share the gift card code with the recipient of their gift. The code is entered at checkout in the cart.
As an admin, you can also create custom gift card codes to send directly to your fans.