Athletes and celebrities are crazy about this $32 charity bracelet that has water from Mount Everest and mud from the Dead Sea

The latest celebrity-approved accessory is a silicon bracelet called the Lokai.

Like the iconic yellow Livestrong bands of years past, this one promises to distribute a portion of its profits to charity - 10%, in this case. Like the Livestrong, you can wear it 24/7 without worrying about it tarnishing or falling off.

But unlike the cheap Livestrong bracelets - which you can buy for $4.99 each - the Lokai is $32 a pop. And instead of sending money to cancer research, you get to choose the charity you want to support.

"It's a very millennial take on how to change the world and how to give back," Lokai's 25-year-old founder Steven Izen told Business Insider. 

Though Lokai has declined to share how many bracelets it has sold, the company has raised over $4 million for charities since the brand's launch in 2013, thanks in part to some serious celebrity support and a strong social media following.