It's called the Seven-Colored Wooden Umbrella.
But it is more appropriately called the Seven-Colored Jade Umbrella, with its main structure being the seven-colored fishing rod, painted in seven colors, as smooth as jade. Holding it feels just right—not too slippery, with a slight roughness that gives it a tangible quality when gripped in hand.
No need to drip blood.
Chen Qiu, sitting cross-legged on his bed, gently exhaled his Golden Core, his eyes tightly shut as he circulated his mental method. All he needed to do was to bring the Golden Core close to the Seven-Colored Jade Umbrella, and then after about six hours or so, it would be fully refined.
By then, this Seven-Colored Jade Umbrella would become his lifebound magical artifact.