The third ring, Vilya, was made of gold and adorned with a "great blue stone". The name is derived from the Quenya vilya meaning air. It is also called Ring of Sapphire, Ring of Air, Ring of Firmament, or Blue Ring.
It is generally considered that Vilya was the mightiest of these three bands (as mentioned in the ending chapter in The Return of the King). The exact power of Vilya is not mentioned; however it is reasonable to speculate that it also possesses the power to heal and to preserve (it is mentioned in The Silmarillion that Celebrimbor had forged the Three in order to heal and to preserve, rather than to enhance the strengths of each individual bearer as the Seven, Nine, and the lesser rings did). There is some speculation that the ring controlled minor elements, considering the event where Elrond had summoned a torrent of water as the Nazgûl attempted to capture Frodo and the One Ring.
When Sauron laid waste to Eregion, Vilya was sent to the Elven-king Gil-galad far away in Lindon, where it was later given to Elrond, who bore it through the later years of the Second Age and all of the Third. As Gil-galad was the High King of the Noldor elves at the time of the rings' distribution it was thought that he was best fit to care for the most powerful of the three Elven rings. Upon Sauron's destruction, the power of Vilya faded and it was taken over the sea by Elrond at the end of the Third Age.
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