Is "read-only text" possible in vim?

I know that we can use the "set nomodifiable" to make a buffer read-only,
which makes all the text in it not modifiable.

But is it possible to make some text in a buffer read-only but not for the whole buffer?
I mean maybe we can "bind" a property to the string ( or text, or character ) , which can
make the text read-only in a modifiable buffer.
Or even finally, We can  make the text not only a plain text,  but text binding some properties
set to different value to control the different aspects, such as highlighting, read-only, or even font.
Maybe, "conceal" can also be one property of a text. :-)

OK, you can consider this mail like a feature suggestion or just a brainstorm about the vim.
Any discussion ?

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