Glossary

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.

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.

Smart Contract

Smart Contract: Self-executing code deployed on a blockchain that automatically enforces agreements once predefined conditions are met.

On-Chain

On-Chain: Any activity or data that is recorded directly onto a blockchain ledger, making it verifiable and permanent.

Fiat On-Ramp

Fiat On-Ramp: A service allowing users to exchange traditional currencies (e.g., USD, EUR) into cryptocurrencies.

DAO

DAO (Decentralized Autonomous Organization): A community-led entity with decisions made via smart contracts and voting mechanisms, rather than centralized leadership.

Governance NFT

Governance NFT: A special type of NFT granting holders voting power or decision-making rights within a DAO or project ecosystem.

Oracles

Oracles: Services or tools that feed external real-world data (e.g., sports scores, weather) into a blockchain smart contract.

VRF

VRF (Verifiable Random Function): A cryptographic function generating provably random outputs that users can verify, commonly used in blockchain lotteries.

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.

Fractional Ownership

Fractional Ownership: Splitting ownership of a high-value asset into smaller tokenized shares, allowing multiple users to invest or hold partial stakes.

Liquidity

Liquidity: The ease with which an asset can be bought or sold in a marketplace without significantly affecting its price.

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.