In a new interview with Bauer Radio, the band's guitarist Jonny Buckland explains that while the accessories are inexpensive individually, to provide a stadium full of people with them is incredibly pricey:

"Every night I think it’s about £400,000! It looks amazing, it just makes everyone have a great time, most of all us and it just feels so magical…Even if you don’t like our music now, I would say come to the show just to see that – wear earplugs, bring a book and when the lights come on have a look!"

Buckland added that the idea was presented to them by a festival goer at Glastonbury several years ago and they never looked back:

"[He] approached our fifth member, Phil and said ‘I’ve got this great idea, I’ve invented these wristbands’. We said, ‘that sounds like the best idea ever, and we love it’ and we’re so grateful for it.”

Coldplay will perform at the closing ceremony of the 2012 London Paralympic Games on September 9 and frontman Chris Martin added that they're "honoured" to be involved:

"We were so honoured to be asked, we got asked like a year ago so that’s been planned for a long time. We are really getting into the nuts and the bolts of it at the moment and its just such an honour to be part of.”

Watch the flashing wristbands in action during a recent concert and performance of 'Paradise' below: