That's neat... It reminds me a bit of those goo-like materials that they make kid treats with and of the stuff that that tripod is made of; if they can make such material that fusions back together and isn't necessarily as viscous and sticky, it's awesome.
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Looks cool, but i wonder howlong it takes to repair actually? Cuz when something is hanging down, with such a band, and the band breaks, the object will fall no matter what right? So all the inventers need to do is find a way to speed up the repair process ;D