LYCOS, which used to be one of the Internet giants, is still in business although not as popular as it used to be “back in the days.” On June 8, they will be launching LYCOS Life, a line of wearable devices that serve as a single point of entry into users’ digital lives.

Initially delivered in the form of a smart wristband ($124.99) and ring ($59.99), LYCOS Life products allow users to live secure, communicative, healthy and efficient lives.

The LYCOS Life activity tracker works in a similar way to other such (wrist-worn) devices, monitoring users’ steps, calories burned, speed and heart rate. LYCOS Life helps users meet goals while its reminders are made to motivate them to get up and get moving. Furthermore, the LYCOS Life heart rate monitor and live EKG/ECG readout should help wearers improve their workouts.

Beyond fitness, LYCOS envisions using these products for mobile payments, user identification, password storing and unlocking, and so on. And soon, LYCOS Life will be able to uniquely identify its wearer by using its onboard sensors to recognize its user simply by the way they move.

“We have been living and learning the Internet for the past 20 years, now the Internet is starting to learn us,” said Suresh Reddy, chairman and CEO of LYCOS. “Originally, what LYCOS set out to solve was simplifying and making searching on the Internet more productive. As we celebrate our 20th Anniversary this year, LYCOS is solving a new problem by simplifying your digital life.”

While we like to see more companies entering the wearables space, we gotta wonder whether more players will necessarily bring-in better products. From what we can see here, LYCOS’ wearables are neither the most powerful nor the most affordable. So we gotta question their prospects in what increasingly looks like a market dominated by few large players…