It's very open ended and should be a fun exercise.
The goal is to design a unique magic artifact. Obviously artifacts are very powerful magic items that are unique, have extraordinary abilities and intricate histories, all of which should be described by you in 600+ words, no limit (but may potentially be edited to avoid contradictions with the game world).
The artifact should be able to function in a fantasy game world roughly equivalent to LoTR for magic and technology. For specific details please feel free to visit the game wiki, especially if you want to strongly tie in your artifact well into the game world. Even if you don't tie it in directly, that can always be done retroactively.
Pics are appreciated if you have them.
Here is my submission for this:
I made the font of Aleksi because I thought a water fountain might be a nice twist of a magic item.
I wouldn't expect anyone else to tie in the world as tightly as I did into mine, but again the idea is to make a unique item that is bold enough to have an interesting legend behind it and make a major difference in the world without being the typical he-man's sword of power... not that a sword isn't OK, but if it's a sword it should be significantly different from all the other artifact swords...
If anyone absolutely must know, the world is run with GURPS system, but that shouldn't really have any bearing on your creativity.
PS post any questions here too! I'll be sure to check back and answer quickly