When a product or good is referred to as virtual good, it has no real intrinsic value or tangible substance. A virtual product or good is the type that is traded in a virtual community just like the ones traded in virtual games and online platforms. They gained popularity more after the rise of social media platforms like Facebook.
Farmville game success through Facebook paved way for the popularity of virtual product and since it's introduction , it has become an app on Facebook. Today, gaming industry is the major industry behind virtual goods as many items are purchased through in-app purchases.