> For the complete documentation index, see [llms.txt](https://australopitech.gitbook.io/venn/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://australopitech.gitbook.io/venn/overview/introduction/terminology.md).

# Terminology

Some definitions before we start

To avoid confusions, here are simple descriptions of some important terms that may have a particular meaning in the context we are bringing. These words will often be highlighted in italics throughout the text so you can come back and check them.  

* **Rental:** to rent an NFT is to pay a certain amount to temporarily enjoy some benefits related to that particular NFT. A *rental* can refer to a particular transaction of this sort or to the very object being rented.
* **Rentee:** to avoid the ambiguity of the word 'renter' we use the term *rentee* to refer to the party paying to acquire the rental.
* **NFT owner:** the party that has a rightful claim of ownership to an NFT listed for rent or being actively rented.
* **NFT holder:** the party marked as the owner of the NFT in the latter's contract at a given time. So a *holder* could be an owner or a rentee (or an escrow), depending on the rental status of the NFT. 
* **Smart Account:** an account embedded with some extra functionalities to provide better experience to users.