Startup Titanium Falcon Inc. announced this week that it has completed the design for its "smart ring," a new video game controller that the company thinks "will change the way users play games forever."

To make the ring a reality, Titanium--founded in 2014--is looking for support from fans. The company will launch a crowdfunding campaign through Indiegogo later this month with a goal of $300,000.

Titanium is hoping to sell the smart ring, which it's calling "Talon," for "no more than $100."

But how does it all work?

"By using Bluetooth Low Energy technology and 9-axis motion control sensor, Talon smart ring could connect with any smart device (phone, tablet, smart TV, smart watch, PC/MAC, or VR headset), and the ring will convert users' hand gestures to appropriate input for the game or application," Titanium said.

The Talon, which is less than 3.8m thick, features two action buttons, and should be compatible with games across a variety of genres, including shooting, racing, and sports. Titanium CEO and founder Guo Juan said in a statement that the Talon controller could have major implications on gaming overall.

"Currently, in order to play motion-controlled games, consumers must purchase all the expensive hardware: TVs, Wii, Xbox, or Kinect are just a few of them," Juan said. "We believe our touch-less and motion controlled smart ring will change the way users play games forever."

Earlier this year, Oculus VR unveiled its own unusual controller for the Oculus Rift, called Oculus Touch. The company is also making further investments in the virtual 3D hand-tracking space.

What do you think of this new video game ring controller? Share your thoughts in the comments below. More information about Talon and Titanium is available on their website.