Forget smartwatches, apparently quite a few folks think that the next big thing is a smart ring. A campaign on Indiegogo for the Smarty Ring has surpassed its funding goal of $40,000 by breaching the $300,000 mark. Despite it’s relatively small size, the ring touts the ability to display the time, accept or reject calls, control your music, and much more. An interesting use of it is that it can function as an invisible leash for your smartphone, notifying you if your phone ends up 30 feet away from the device.

A nice design choice for this ring was to allow it to be charged wirelessly on a charging pad, removing the need for an ugly charging port on the ring. The Smarty Ring offers a 24-hour battery life, which should allow it to comfortably get through the day.

I’m not sure that it’ll catch on, but it would be a rather unique thing to have as a fashion accesory.

The first smartring has an LED screen, tells time, and accepts calls

The ring can display the time, accept or reject calls, control music, trigger the smartphone’s camera, and initiate speed-dial calls. It will also alert the wearer with light-up icons for texts, e-mails, Facebook, Twitter, Google Hangouts, and Skype. It supports dual time zones and comes with a countdown timer, a stopwatch, and an alarm. It can work as a tracker for your phone, too—if your smartphone is more than 30 feet away from the ring, Smarty Ring will trigger an alarm.