In graphical perspective, a vanishing point is an abstract point on the image plane where 2D projections (or drawings) of a set of parallel lines in 3D space appear to converge. The vanishing point may also be referred to as the “direction point”.
Vanishing Point Perspective is used in Graphic editing and 3D video games. It can be used to render 3D shapes (3D Buildings and objects), add perspective to a background scene (road, train track) or add shadow effects.
The following slideshow, demonstrates the use of vanishing points in computer graphics:
You can read more about Vanishing Point Perspective on Wikipedia.