The Lord of the Rings: The Rings of Power ended season 1 with quite a few big pieces of Tolkien's Lord of the RIngs lore coming into clearer view – including the true enemy that has been lurking in the midst of Middle-earth, all along (Sauron). Along with the emergence of true evil came a dubious milestone moment in Middle-earth's history: the forging the of the first three Rings of Power, by the Elves. Now that The Rings of Power has actually lived up to its title, let's break down what they actually are.