In the game of Keepsakes, players compete to create a line of memories and recall them in order to earn the most Keepsakes, which represent their score. At the start of the game, each player has two Keepsakes, and they can gain or lose more as they complete challenges and recite the line of memories.

During the game, players take turns drawing a new memory card and adding it to the line of memories. They then define the memory and recite the entire line of memories in order, starting from the first one played. If another player thinks that they made a mistake, they can call it out, and the Keepsakes will be traded accordingly.

Each memory card has a different requirement, such as saying something only they know, something they see, or something they prefer. Some cards may even have tasks that make the game more challenging, or players can choose to take on challenges to increase their Keepsake collection. Additionally, some memory cards may reorder the memory line or be turned face-down, forcing players to adjust or risk losing Keepsakes.

The game ends when a player has no more Keepsakes or when the memory deck runs out. The player with the most Keepsakes at the end of the game wins, and ties are allowed. However, players can also choose to play cooperatively and work together to gather the most Keepsakes as a team.