Rings

[Manzy]

Narya

AOE effect on others
+7% Fire rate for 12 seconds
+7% Mobility for 12 seconds
+7% Stability for 12 seconds

Nenya

Reduces proc chances and duration for X%
or
Activated ability to cloak, deactivates when move

Vilya

AOE passive heal over time while user holds active

Dwarf Rings

Increases orb drop luck or end round drops for coin


Rings of Men-zy

Decreased damage to players with the One Ring equipped
1 random bonus
~increased health
~jump height
~individual dot resistance (poison/electricity/fire/ect.)
~take x% less damage
~increased mobi


The One Ring

Rarest of the rings
Increase damage to others with rings equipped
Has a radar effect on others who are wearing rings, except Nenya

As for how they can be implemented in game, perhapse some sort of crafting can be used where there would be a chance of failure when crafting.
Just thought I would throw this idea into the suggestion pages, any constructive criticism is welcome.