The Monkey Light Pro system consists of four separate LED bars that attach to the spokes of each bike wheel. When you're riding down the street, the spinning bars form animations thanks to a "persistence of vision" effect.
It's an insanely cool optical trick, and the maker of the system, San Francisco–based Monkey Light, provides software for creating and uploading your own animations (you can also use Monkey Light Pro's preloaded content). The Space Invaders animation is my personal fave. For more information, and to see video of the system in action, check out the Kickstarter page.
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