A “virtual marketplace” is a platform based on digital technologies in so-called virtual space or cyberspace, which makes it possible for supply and demand for certain goods to come together. To this end, suppliers and customers are brought together, a reconciliation of interests is brought about via market mechanisms and, finally, the transaction is made possible.

A “virtual marketplace” is a “market” in the economic sense. A “virtual marketplace” is form of a “digital market”.

Examples of “virtual marketplaces” are the securities trading platforms of stock exchanges or the Internet platforms of online auction houses.

How to Cite

The definition given above was proposed as part of the Digital Era Framework by Dr. Dr. Jörn Lengsfeld. The text was first published in: Jörn Lengsfeld: Digital Era Framework. Please refer to the original publication if you want to cite the text.

Dr. Dr. Jörn Lengsfeld > Definition > Virtual Marketplace