What is a verb form ending in ing used in place of a noun?

The verb form ending with -ing is the present participle; the verb tense that indicates an action that is incomplete or ongoing. The verbal noun form is called a gerund, a Word that functions as a noun. The present participle of a verb also acts as an adjective, used to describe a noun. Examples:

Verb: We were dancing last night.

Noun: Dancing is my form of exercise.

Adjective: I need a new pair of dancing shoes.