I can’t see that this has too many practical applications right now, but I like the thinking behind it:
Basically, the guy who designed this, Ron Arad, used spring tempered steel to make tire-like structures that apparently feel surprisingly like tires to ride on. There are 18 strips of steel bolted together at various tension points; the result is a wheel that’s a little bit bigger than normal but yields the way a tire would. Supposedly. And apparently the faster you ride, the smoother it feels.
You can read more about it (and make a bid to purchase this bike at auction:) here.
I can’t say that I’m going to run out and make one of these myself or anything, but I do like that people are thinking about how to make bikes that would never go flat!:)