RealGifts is a fun application that bridges the gap between virtual gifting and real world gifting. A competitor in the current fbFund round, RealGifts lets you send tangible presents to your friends, which are delivered in the mail. The good thing about using such a gifting program through Facebook is that you can send and receive gifts without knowing or revealing your physical address–Facebook already knows this information.

The virtual and real worlds are connected through the RealGifts application by the “virtual” opening of the gift on Facebook at the time of the “physical” delivery. That is, the virtual gift sent to your friend will be a wrapped box, which will reveal the same gift that was delivered once opened.

Of course, one downside to this system is that the actual gifts that can be sent are limited to what the RealGifts application offers. But there’s plenty of room for growth and cross-application communication for layering in recommendations, wish lists, and ways to earn gift credits across multiple apps, sites, retailers and services. RealGifts is already moving in this direction, with its display of the upcoming birthdays of your Facebook friends and advanced delivery dates for various holidays and occasions.

Click here to vote for RealGifts and also don’t forget to check out the RealGifts application.