The ring sound comes from Sonic the Hedgehog, Sega's platform series that began on the Genesis in 1991. In the games rings act as protection and collectibles, and the chime was designed to be instantly rewarding each time one was picked up. As gameplay clips, speedruns and remixes spread online, the effect escaped the games and became a shared shorthand for collecting anything valuable. It is still used because it is short, positive and recognised across generations of players.