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Seeing this, I just can't stop thinking of why they choose to create an entertaining device and if this fluid has any practical applications.



It does have practical applications, but that doesn't mean you can't use it for entertainment too.


Art has the practical application of being interesting to the beholder without necessarily being otherwise functional. Although with this piece, a clock is practical and it also seems natural that it could become a programmable display platform like a Pebble Watch.


Because that's been done and there are plenty -- your hard drive probably contains some!

https://en.wikipedia.org/wiki/Ferrofluid#Applications


Passive cooling of a speaker's voice coil is pretty neat.




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