Elements of Norse mythology abound in The Lord of the Rings, and none is so compelling as the ring itself. The One Ring is reminiscent of magic rings in Norse lore, especially Odin's Draupnir or Andvaranaut from the legend of the Volsungs, although Tolkien's ring has a will of its own and cannot be used for the good.
This is a companion discussion topic for the original content at https://www.worldhistory.org/article/1950/magic-rings-in-norse-mythology/.