Each ring includes 108 diamonds and the design was closely guarded until the ceremony. Each diamond represents a year since the Cubs last won a World Series in 1908.
The rings, designed and produced by Jostens, is made from 14-karat white gold. Its top features the traditional Cubs bullseye logo, crafted from 33 custom-cut genuine red rubies that are surrounded by 72 round white diamonds, all within a circular perimeter made up of 46 custom-cut, genuine blue sapphires, according to the team. The bezel is surrounded by 108 round white diamonds lifting the Cubs logo to victory and signifying the end of a historic 108-year championship drought. Overall, the ring contains 214 diamonds at 5.5 karats, 3 karats of genuine red rubies and 2.5 karats of genuine sapphires.
PHOTOS: CUBS WORLD SERIES CHAMPIONSHIP RINGS
Replica rings were abound Wednesday afternoon on the streets of Wrigleyville, but the ring maker said Cubs fans can get their own for a mere $10,000.
Coaches, owners, executives and Hall of Fame alumni were presented their 2016 World Series Championship rings as well.
During the ceremony, announcer Len Kasper told the cheering crowd: "Tonight you'll witness the first championship ring ever presented to Chicago Cubs players."
The Cubs selected 20 fans in a contest to present the rings. Among them was Amy Liss, 34, of Downers Grove, a lifelong Cubs fan who has cerebral palsy.
Another ring bearer was Grace Davis, a 20-year-old who was born with spina bifida, which is a condition that Cubs player Javier Baez's late sister also had.
"It was amazing. It was a once-in-a-lifetime opportunity, and I will never forget it," Davis said.
On Monday, Cubs Chairman Tom Ricketts said the design was a collaborative effort. The ring maker said it went through 300 different drawings before creating the final design.
"We basically, with the rings, you kind of like try to think of some guidelines and then we turned it over to a committee of players. And they put in a lot of the symbols that they think is important. So it'll be interesting, when it comes out, to show people all the things that the players thought were important to put in the ring," Ricketts said.
One side features the player's name set atop the iconic W Flag, which is created from 31 round white diamonds and a fire blue corundum understone that forms the "W." Silhouette images of Wrigley Field's bricks and ivy surround the flag and the player's number, which sits below the flag.
The other side features the year 2016 above the iconic Wrigley Field faade and Marquee, displaying the message "CUBS WIN!" A silhouette of the World Series Trophy sits below the Marquee with a large round white diamond set in the center, signifying the 2016 World Series victory. Two princess-cut diamonds flank the trophy, representing the team's two previous World Series titles. Wrigley Field's bricks complete the background.
The rings were taken from a bank vault to Wrigley Field in an armored car, locked cases and protected by armed guards.
"It's important to wear it and show it off. It was a long time to get that, so. And we should all be very proud of it. I'm a big believer that if you accomplish something like that show it off. I mean, we did it. And I'm sure that right when we get it all of us will be wearing it all the time, but as time goes on hopefully we have more on our fingers," said Kris Bryant.