Erik Olin Wright's term for institutions that embody emancipatory ideals and already exist, at least in part, evaluated by their desirability, viability and achievability.
In more detail
Wright's Real Utopias Project, culminating in Envisioning Real Utopias (2010), studied cases such as participatory budgeting in Porto Alegre, Wikipedia, the Mondragon co-operatives and unconditional basic income as elements of a democratic egalitarian alternative to capitalism. The threefold test separates what is attractive in principle from what has been shown to work and what can be reached from present conditions. Critics on the left see the approach as reformist; critics on the right doubt its examples generalise.