Nike recently launched the Nike+ FuelBand, a product that keeps you motivated throughout your workouts by quickly and efficiently tracking your progress toward your fitness goals. Unfamiliar with the concept? According to Nike, “NikeFuel counts all the activities of your athletic life. Running, walking, basketball. Nike+ devices measure your moves and turn them into NikeFuel. And since NikeFuel is calculated the same way for everyone, you can compare and compete with anyone.”

Worn around the wrist, the Nike+ FuelBand uses a sports-tested accelerometer to measure everyday activity. After setting a personal goal each day, you can track your progress in activities like running, walking, dancing, and sports. (Is cardio really the best way to burn fat?) The FuelBand’s LED display transitions from red to green the closer you get to your goal. It also displays the amount of NikeFuel earned, calories burned, steps taken, and, of course, elapsed time.

After syncing with the Nike+ FuelBand app, you can easily reference your activity history. The app helps you stay motivated and allows you to connect (and compete) with friends by sharing your fitness achievements.

Another impressive feature: the FuelBand contains an ambient light sensor that detects environmental light levels. The brighter the environment, the brighter the display. The band is water resistant, so it can be worn in the shower or in the rain; but it’s not waterproof, so don’t wear it in the pool.

The FuelBand comes in all sizes, but colors are limited to black, black ice, and white ice. Purchase one at the Nike store for $149.95.