The MagnoGrip from ThinkGeek is basically a “magnetic wristband guaranteed to securely hold nails, screws, drill bits, fasteners and tools.” Video after the break. Click here for one more picture.

It allows professionals and do-it yourselfers to finish jobs in less time and with less frustration. The magnogrip is built to handle the most rugged of jobs. Its fabric construct consists of durable heavy duty canvas, industrial grade velcro and high-powered magnets that are strong enough to hold a hammer