On September 9, Apple satisfied months (or even years) of speculation and hype by finally announcing its first smartwatch. The Apple Watch is a snazzy, LCD screen device that looks like a miniaturized iPhone connected to a band. According to the Wall Street Journal, Sony was positioning the launch of its own smartwatch around the same time, but has been using completely different marketing strategies.

For one thing, Sony’s upcoming smartwatch will not have a colorful LCD display. Rather, the watch will be made out of something called “electronic paper,” which is lighter weight, less fragile, and certainly less conspicuous than the miniaturized computer that will grace the Apple Watch. Precisely what sort of smart device functions e-paper will allow for is not really clear at this point, but Sony has reportedly been working with the new technology a lot lately.

In fact, Sony has apparently been hiding plans for its new e-paper watches in plain site since September. But while Apple went for the big media extravaganza to announce its watch, Sony quietly launched a crowdfunding campaign on a Japanese website.

“Quietly” is the appropriate word here, as the campaign was not even labeled as a Sony project. Instead, it was classified cryptically as the “FES Watch,” with FES standing for “Fashion Entertainments.” Now, it has been revealed that Fashion Entertainments is actually a Sony project. The project is not just about smartwatches, either. In fact, the Wall Street Journal says that Sony is researching electronic paper to see how the material could be used to make a range of fashionable electronics devices. These could include ties, hat accessories, and more.

The idea of an electronic paper watch sounds like an intriguing gadget, especially as an alternative to the current “bigger is better” mentality that seems to be going on with LCD screen devices. As for why Sony kept the whole thing quiet, someone involved in the project told the Wall Street Journal that the company wanted to “test the real value of the product” without the prestige of the Sony name behind it.

Apparently, the value is pretty substantial: the project surpassed its crowdfunding goal in three weeks, and has raised about 3.5 million yen so far.