Not sure I get it. Why a "ring"? Why not just have a list of web-site URLs on a page and share that page with your friends and ask them to put that page somewhere on their site? "Ring" means you are navigating linearly and circularly. Isn't it better to provide a list of links so users can choose where they want to go "next"? And why should I have to go around the whole "ring" to get back to where I started from? The…
this was a popular one: https://en.wikipedia.org/wiki/Ate_my_balls
Webrings kinda went away when "blogging" became the new thing, and then there were blogrolls and pingbacks and delicio.us and whathaveyou. That got supplanted by the larger glurge into social media with friendster, then myspaces top 8, and now everyone is just on facebook saying "what's the point?".
Indeed. As mentioned, its for personal sites as a lightweight way to share a link to a friends site that may or may not be related, rather than a list of affiliates or sponsors or whatever.