This means money which is electronic. You cannot touch it and the value is just through web. Like bitcoin and other altcoins. It is generated through internet. It is also used using internet. It is brought to the market since we are getting more digital and we are currently on computer age. This cannot be stored in the bank.
Virtual Money is a digital representation of value that is issued and controlled by its developers, and used and accepted among the members of a specific (virtual) community