A new project to create a watch conversion kit for the sixth-generation iPod nano is hoping to raise $75,000 (around £46,200) by 15 June to help it take off.

Financial backing for the project is being sought through Kickstarter, an 'all or nothing' community website, where projects must raise all of the funding they are asking for by a certain deadline or no money changes hands at all.

There are already several accessories available that will convert the iPod nano into a watch, but the project's chief, Enrique Bonansea - the president and CEO of emonster - believes that none of them quite fulfil their potential.

"There is a good chance that, like me, you fell in love with the 6th generation iPod nano the first time you saw it. I, like others, thought it would make a fantastic watch," Bonansea said.

"Over the past months I've tried out many different products, many of them good in their own way. However none of them gave me the look, styling and flexibility that I was looking for. I realised the best way to get what I wanted was to do it myself," he continued.

Bonansea's answer is the nanox. Described as a "clean, simple, elegant and minimalist Japanese design" - created by industrial designer Noriaki Miyata - the nanox aims to be the "most stylish iPod nano watch conversion kit".

To offer the iPod nano protection from the elements there are two anti-glare sheets to stop the screen getting scratched as well as to reduce fingerprints and glare from sunlight. The back cover has four silicone bubbles, one at each corner, that  hold the nano in place.

There is also a silicone plug for the iPod nano's open connectors to prevent dust or rain water getting in.

The nanox will be available in an aerospace grade aluminum 6061-T4 alloy, an anodized aircraft grade aluminum in six different colours (black, white, blue, green, orange and pink), an aerospace stainless steel S124 alloy and an aerospace grade titanium 6AL-4V alloy.

Silicone straps will be produced in the same six colours as well as a transparent version, and will be sold separately, so you can pick and mix to create your own look.

If you'd like to help the project get off the ground, the minimum pledge is $5 (about £3). If you pledge $80 (£50) or more you will receive an aluminium nanox in the colour of your choice if the project goes ahead. Normal retail price will be $100 (£62).

Pledge $100 and you will receive a stainless steel nanox with black silicone straps (normal price $112/ £69) and if you pledge $120 (£74) you will get a titanium nanox with black silicone straps, which would be $125 (£77) from retailers.