Waves is a smart Bluetooth speaker that also functions as a modern version of the Lava Lamp. It was designed by designer Frank Cohen.
This device can play music while flashing its LED lights in customizable patterns.
The Waves Bluetooth speaker and lava lamp comes with a half hour of pre-programmed light patterns. You can even use a special software development kit to generate original light shows. However, the contraption doesn't have its own user interface, so light shows must be generated using an iOS or Android device and Bluetooth connectivity.
Cohen is running a Kickstarter campaign to raise funds to bring the Waves speaker into production. A pledge of $149 will secure you a pair of Waves units and a set of filters if the campaign hits its fundraising goal.