What is Prize?

Prize definition and meaning on Dictionary terms:

a reward for victory or superiority, as in a contest or competition.
something that is won in a lottery or the like.
anything striven for, worth striving for, or much valued.
something seized or captured, especially an enemy’s ship and cargo captured at sea in wartime.
the act of taking or capturing, especially a ship at sea.
Archaic. a contest or match.