Sporting goods maker, Nike Inc has released a new digital device, Nike+ FuelBand, which will allow athletes to track their movements.

The new Nike+ FuelBand is capable of tracking all movements such as running, dancing or swimming, allowing players to track their own movements and set goals to improve performance and speed.

The high-tech wristband, which was unveiled on Thursday, displays measures of calories burned like other exercise equipments in the market. The NikeFuel is claimed to be able to compare different activities through the standard.

The company measured the intensity of various movements in order to know how much NikeFuel should be assigned for an activity. The band is a flexible black strip with a single button and it weighs between .95 and 1.24 ounces depending upon its price. It is synchronized with Nike+ workout-tracking website through a built-in USB or wirelessly through Bluetooth to a free iPhone app.

The wrist band was released at a launch event Thursday in Manhattan, New York. The event was attended by Kevin Durant from the NBA and Lance Armstrong, 100-meter world champion Carmelita Jeter and hosted by comedian Jimmy Fallon.

The Nike+ FuelBand, is now available for pre-order at a suggested retail price of $149.