Jamal Murray, Nikola Jokic and their Nuggets teammates got their new jewelry during a special on-court ceremony Tuesday night in front of the home crowd at Ball Arena in the Mile High city.

The ring, designed and produced by the undisputed championship ring authority, Jason of Beverly Hills -- is massive ... and awesome.

Jason tells us the piece contains over 16 carats of diamonds, rubies, and blue sapphires which represent the team's colors and the 16 playoff wins it took to win the chip.

The ring also features the Larry O'Brien Trophy, two pickaxes from the Nuggets logo, player's names, jersey number, and the words "World Champion," along with the team's manta, "Bring It On".

The piece also has what Jason describes as "two never before seen design elements" ... the background color of the ring can be changed when a lever is pulled, and there's a hidden compartment that contains a mini championship banner.

"I really wanted to make the ring for the Nuggets," Jason said, "challenging my team to come up with features we knew others just wouldn't think of that would help set our design apart."

"We got player feedback during summer league and were able to include two new design elements that make this ring stand out from anything ever seen before in Championship jewelry."

The fellas absolutely loved it ... especially The Joker, the 2023 NBA Finals MVP who showed off the ring for the cameras.