So back when search engines were in their infancy, webrings were kinda a big deal. Essentially, they were collections of topic-related websites that agreed to mutually link to each other so that people could find content related to the pages that they were visiting. They kinda died out after Yahoo bought webring.org (where most webrings were controlled) and replaced all the webring control pages hosted there with Yahoo pages, and by the time they let go of the domain contemporary search engines had mostly rendered webrings obselete.
However, there are definitely still webrings around. The official site of maia arson crimew (the hacktivist who made the news for leaking the no-fly list to select journalists) belongs to two webrings, for example. I can definitely see them making more of a comeback among computer enthusiasts if search engines enshittify themselves more.