To add to JB Goode's post I always thought of them as a metaphysical device to amplify powers (from the Valar?) - but good ones like healing, knowledge etc. But they could also amplify less desirable stuff in weaker races (Men, Dwarves etc). Plus the Noldor just liked making wonderous stuff, a sort of self indulgence, like scientists that create stuff to push the boundaries of their knowledge and worry about the consequences afterwards.
Also I think we should bear in mind this is in effect an alternative Anglo-Saxon* heroic tale and ring giving by lords/kings was very, very important in that world. The giving of rings features heavily in Beowulf but it's slippery as to meaning in that it's used in the poem as a kenning (metaphor) for lord/kingship/power. They were though, quite literally, rings of power and were the glue that held the warrior culture together.
“Cyning sceal on healle beagas dælan.”
A king in the hall deals out arm-rings.
If you're interested I also think it's also worth looking at the legend of Wayland the smith - as to my mind that sort of get's under the skin of the Noldor Elves and their love of craft and the consequences it can bring.
* Used in a historical rather than any other sense.
I‘ve realized that after all these years I knew about 20 rings, I knew the one ring, influenced all the others, but all it did for Frodo was to turn him invisible and call attention to himself from the dark forces. Using it beyond invisibility, was likely beyond his abilities or his temperament. It turned Bilbo invisible too, but in that story, and even in the beginning of LOTR, it did not seem to have quite the same effect on him, at least it was not portrayed that way, although he had difficulty giving it up as did Frodo.
And I had no idea of what the status of these rings were at the time of LOTR. It seems obvious that if Sauron wants the master ring, that the others must be in play too. But none of the other rings were shown as being worn by anyone (in books or movie).
But it could also be that primarily, he needed the master ring to insure his continued survival. Sauron who was greatly reduced as anything that might be considered human had invested so much of himself in the Master Ring, that when it was destroyed, he and Mordor imploded.
I’ll assume there is lore for Galadriel chasing Sauron for a long time as portrayed in
Rings of Power, but at the tme of
LOTR, as compared to this history, she seems oddly detached from this stuggle, no longer on active pursuit, but available to give advice. Maybe at this point after so many centuries, she had given up or retired, or just got tired. Maybe there will be something that will be told in this series to illustrate this change, while Elrond is still in the game during LOTR.
I knew that the 19 Rings were given as gifts, but as someone who did not read beyond LOTR, I did not know the circumstances, who made them, I assumed Sauron, or he was involved somehow and it was not clear to anyone what these rings represented or why accept them?
But here is my thought for
Rings of Power, why would Rings that elves made be tied to the master ring? You would have to assume that Sauron would by virtue of being present when the first 3 rings for the Elves were crafted, had to infuse them with his intent. What I question in the show, is that Galadriel knows of his involvement, but because the writers turned having Mithril into life or death for the Elves, “they needed their light replenished”, Galadriel did not stop the process, but knowing that evil was involved, it will be interesting to see how the other rings come to be made.
We know in the history, that despite all these rings being worn, that their effect was overcome by the virtue and counter will of the participants who would be Sauron pawns if he had his way.
