Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

18-carat gold payment ring? Yes, they have it! 💍

11 Dec 2025 · 1 min

Watch on YouTube

0:41

In this short segment of Tim Draper's YouTube video, the speaker explains how an RFID‑enabled payment ring harvests energy directly from a reader’s electromagnetic field, eliminating the need for an internal battery. He demonstrates drawing power from a machine into the ring and clarifies that the technology relies on electromagnetic induction rather than a permanent magnet. The video then outlines the company’s three product tiers: a mid‑segment model priced at $54, an upcoming mass‑market version slated for $18, and a premium 18‑karat real‑gold version, positioning the latter as a luxury payment accessory.

Chapters

What's in the ring? It works on the RFID principles. So RFID electronics do not require constant power. They can draw power at the time of operation. So right now, if you saw, I actually drew power into my ring from the machine itself. Is it like a magnet? It's an electromagnetic field, EMF. They were not able to understand how the technology works in terms of how does it take power from the reader and stuff. After they understood, we were back on track. And we have 3 product categories. One is our mid-segment, $54 product. We have a mass market variant coming in, which is going to be selling at $18. And we have a third variant. It's an 18-karat real gold payment ring.