Nike launches the NIKE+ Fuelband

Nike launched the NIKE+ Fuelband today which is a wristband that measures time, calories, steps and NikeFuel (a new metric that will be the ultimate measure of your athletic activity).

"The more you move, the more NikeFuel you earn, whether you’re playing basketball, throwing a Frisbee or going for a run.

Nike worked with some of the world’s top experts in science and sports to engineer NikeFuel algorithms based on oxygen kinetics. Unlike calorie counts — which vary based on someone’s gender and body type — NikeFuel is a normalized score that awards all participants equal scoring for the same activity regardless of their physical makeup. A user can also choose to also receive a calorie count to understand how many calories are burned versus how much NikeFuel is earned."

Measure your progress via the LEDs as you try and reach/exceed your goals. Track your progress via the Nike+ website, built-in USB or wirelessly through bluetooth with a free iPhone app.

The Fuelband is available for preorder starting January 19 in the U.S. at for a suggested retail price of $149 (U.S.).

Follow @NikeFuel on Twitter.