Lumia Smart Watch concept looks pretty cool

We know Microsoft is working on a smart watch, but I suspect it will not come close to this concept dreamt up by Omar Pirela, who posted it on the Verge forums.
He writes:

Hi, this is my third concept inspired in the Nokia brand, but well, in this case is beyond the Nokia-Microsoft Deal and explores the Lumia as a standalone brand with the first SmartWatch, the perfect companion to your Lumia phone and tablet, I think they need to rethink the Windows Phone brand too, because in the near future it will be more than phones. My concept is based on a hardware navigation with a colorful design, AMOLED screen and a camera connected via Bluetooth with your main device.
The main menu was designed to reduce the energy consumption and to offer useful notification info, the form-factor offers a traditional watch shape and the possibility to customize the color to your personal preference. I´m working on a second video to show how this will work. I believe in the future of the Nokia Devices team under Microsoft umbrella coming soon, and that is my inspiration to create this work. Thank you for your support.