This gorgeous $250 ring can replace your wallet, your keys, and even your train pass

In Token’s world, you’ll never need to carry your wallet. You won’t need house keys, or a transit pass, or even to remember your computer password.

All you’ll need is a ring.

Token is a fledgling hardware company that just introduced its first product: the Token ring, an identity ring designed to store your credentials and secure your privacy with a fingerprint sensor.

The Token ring starts at $249 and is now available for presale. The first Token rings will start shipping in December.

Here’s how it works, according to the company.

Token was founded by husband-and-wife duo Melanie and Steve Shapiro. They met at Rochester Institute of Technology in Rochester, New York, which is where the ring is being manufactured.

Token comes in three finishes: brushed stainless steel, which costs $249 ...

... black rhodium, which costs $299 ...

... and 14-karat rose gold, which also costs $299.

The ring has a built-in fingerprint scanner, designed to ensure you're the only one who can get it to work. Once you scan your finger, the ring will light up and you can put it on. If the light turns red, the ring won't work.

An optical sensor is also built in. When you take the ring off, Token says, it can sense that and will lock your credentials.

Token is waterproof up to 50 meters, so you don't need to take it off when you shower or swim.

The battery will last about two weeks. When it needs to be charged, the ring sits on a wireless charging base.

Token is capable of storing your credit cards and works a lot like Apple Pay or Android Pay. Once you add your Visa or MasterCard to the ring, you'll be able to tap it over the credit-card scanner at stores to complete your purchase.

Here's what it looks like in action:

To add your card, you'll need to pair the ring with the Token app, which is available for iOS, Android, Windows 10, and OS X.

Within the app, you can also add your passwords, set up your smart lock, activate your access card for work, add your transit pass, and enable the ring to work with your car.

When you add your transit pass, you'll be able to use the ring at any transit hub that has an NFC reader.

Same goes for your front door. When you hold your ring up to the pad, it will unlock your door — on your way out, do the same thing to lock it. Token made its own smart lock, which costs $100 to pair with your ring.

If you're someone who has trouble remembering your password, you can load it on to the ring. When you want to open your laptop, knock twice — your password will auto fill and your computer will unlock.

The feature works using Bluetooth. You need to knock twice to activate the Bluetooth within the ring so it can start searching for your device.

Token works for your car, too. The company sells an accompanying plug for your car that will let you use the ring to unlock the door and, eventually, to start the car.

The ring can replace your access card for your office as well. Token is enabled with the same technology that's inside scannable badges, so you can load yours onto the ring.

The Token ring costs $249 to $299 and is available to order now.

Learn more about how the ring works on the Token's website.