In our old Victorian, my DH put down a base coat of paint and then stenciled Ohio Star blocks here and there. He then used a few coats of some sort of shiny boat varnish over top. This was in our well-traveled back hallway and it wore like iron, surviving lots of wet boots, dog claws, etc. He did the same in a round tower space - did a lovely Mariner's Compass there, but it didn't get as much traffic. If you put down plywood, you will have the seams to contend with, but you will also have the option to cover over it with tile or even wood down the road.