# Glossary

{% tabs %}
{% tab title="RWA Tokenisation" %}
**RWA (Real-World Asset) Tokenization:** The process of creating a digital token on the blockchain to represent physical assets such as real estate, luxury goods, or commodities.

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{% endtab %}

{% tab title="NFT" %}
**NFT (Non-Fungible Token):** A unique digital asset on the blockchain with individual characteristics—often used for art, collectibles, or in-game items. No two NFTs are identical.
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{% tab title="Smart Contract" %}
**Smart Contract:** Self-executing code deployed on a blockchain that automatically enforces agreements once predefined conditions are met.
{% endtab %}

{% tab title="On-Chain" %}
**On-Chain:** Any activity or data that is recorded directly onto a blockchain ledger, making it verifiable and permanent.
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{% endtabs %}

{% tabs %}
{% tab title="Fiat On-Ramp" %}
**Fiat On-Ramp:** A service allowing users to exchange traditional currencies (e.g., USD, EUR) into cryptocurrencies.
{% endtab %}

{% tab title="DAO" %}
**DAO (Decentralized Autonomous Organization):** A community-led entity with decisions made via smart contracts and voting mechanisms, rather than centralized leadership.
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{% tab title="Governance NFT" %}
**Governance NFT:** A special type of NFT granting holders voting power or decision-making rights within a DAO or project ecosystem.
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{% tab title="Oracles" %}
**Oracles:** Services or tools that feed external real-world data (e.g., sports scores, weather) into a blockchain smart contract.
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{% tab title="VRF" %}
**VRF (Verifiable Random Function):** A cryptographic function generating provably random outputs that users can verify, commonly used in blockchain lotteries.
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{% tab title="VRE" %}
A randomness mechanism used in LUXEYA where winning numbers—such as sweepstakes results—are derived from pre anounced publicly verifiable real-world data sources.
{% endtab %}
{% endtabs %}

{% tabs %}
{% tab title="Fractional Ownership" %}
**Fractional Ownership:** Splitting ownership of a high-value asset into smaller tokenized shares, allowing multiple users to invest or hold partial stakes.
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{% tab title="Liquidity" %}
**Liquidity:** The ease with which an asset can be bought or sold in a marketplace without significantly affecting its price.
{% endtab %}

{% tab title="Progressive Web App (PWA)" %}
**Progressive Web App (PWA):** A web application that can be installed on a mobile device or desktop, offering an app-like experience without requiring app store downloads.
{% endtab %}
{% endtabs %}