LVT or LVP is the ultimate in high-end vinyl flooring, offering a more affordable option. Using advanced 3D imaging technology, a photograph of wood or stone is transferred directly to the tile. Each tile is then uniquely embossed to match the appropriate texture. The final product is made of severl layers, including a protective wear layer and often a urethane layer for added durability. These tiles or planks realistically capture the textures and rich grains of the natural materials they replicate, most tiles include beveled edges and come in a variety of shapes and sizes. The realism and durability does comes with a higher price tag that that of traditional solid vinyl tiles.

(Source: Wood Floor Covering Association)