When J.R.R. Tolkien pursued his education at King Edward’s School, he found a love and passion for Norse works. His passion would follow into his tenure as a professor at Oxford where he would vie for the integration of Norse mythology in the curriculum and eventually inspire his own mythology for his stories. We see a significant element borrowed from the myths being the power of the rings. From Norse mythology the draupnir ring, forged by dwarves, was worn by the king Odin and had magical properties that allowed the it to multiply after the ninth night into nine more rings.
However, its importance isn’t rooted in its properties, but in its history. John Lindow in his book Norse Mythology, notes the importance of the ring being buried with