Fund this: Smart jewelry changes color with the tap of an app

One piece of jewelry to rule them all? That's one way to describe the Algara, a new piece of smart tech that's designed expressly with ladies in mind.

Currently seeking funding on Indiegogo, Algara is an LED-powered fashion accessory that the makers say can be made to change color to match (or otherwise complement) what you're wearing.

Square but with rounded corners, the "stone" measures 1.4 inches along each side and can be worn as a pendant or bracelet, though future accessories will expand on those options.

You can use Algara's companion app to manually select a color, but here's where it really gets clever: If you snap a photo of, say, a piece of clothing or something like a purse, the app can immediately apply that color to the stone. So now you've got a piece of jewelry that exactly matches your top or handbag or whatever.

The developers plan to include more "smart" features as well, including notifications, colors that change in response to music and a phone locator.

The stone is powered by a rechargeable lithium ion battery, and although the developers haven't disclosed how long it will last on a charge, the good news is it relies on inductive technology: you can rest the stone on an included wireless charger at night and it should be ready to go the next day.

Assuming the Algara goes forward (with or without funding), it's expected to have a list price of $249 (converts to about £160 or AU$315). Early backers can get a Vanity Combo Pack, including the stone, charger and various accessories, for $149. The project has an estimated ship month of October 2015. According to the FAQ, it should operate in the US and Europe, but will ship free anywhere in the world.

Although this strikes me as a pretty expensive item, as color-changing LEDs can be found in light bulbs and other gadgetry costing considerably less, I have to admit the idea is really cool. Your thoughts?