Considering the iPad 2 works just fine with just a finger for most people, I wouldn't have thought there was much of a mass-market for a capacitive stylus for use on the 9.7" tablet. But that hasn't stopped people trying, including a new Irish Kickstarter-like project called The Maglus.
The Maglus, as the name might suggest, is a magnetic capacitive stylus that will mimic the touch of a finger on the iPad's screen. It tucks neatly out the way when not in use by attaching to the Smart Cover or the body of the iPad 2.
Having reached €2,939.00 (US$4,350) of the target €15000 ($22,195), the team behind the €24.99 Maglus has released a couple of new renders of the near final product (as seen above). You can view a video of a prototype below.
If you're interested in getting your hands on one -- perhaps you're an artist, illustrator or someone who needs the precision of a pen on the iPad -- then head over to the Maglus Fund.it page. You can pledge €15 or more to secure yourself one of the magnetic styluses, but hurry -- the offer is only open to the first 2000 pledgers.