It's a knife buckle. Yes and its held on by two methods a magnet and a small bead/groove. The thing knife comes off when you put it on or take it off. The design needs to function first and foremost as a belt. I think if they would of changed the belt by added an edge to the front and back of the knife slit so it don't slip right and left as you take it off or put it on so only way to get the knife out is to pull up. The magnet on the thing is the only redeeming quality else it would fall out all the time. The entire belt buckle was clearly designed around the knife like they bought it first instead of knife around the buckle which makes it not very well designed.

Lastly, the belt / knifes design is very obvious and can be determined to be one right away. The picture they show is a little deceptive, because when the knife is already out in the picture. When you put that knife back in you see those 4 holes in the knife in the hand grip and a clear outline of a standard knife shape which I do not like it. It should be a solid piece of metal or material without any of the etching even if the top and bottom had to be different materials it would look better than a set of 60's flames etched with cut holes in the hand grips that's trashy like folk art.

The reason I bought it, I assumed the picture was it open and shut version which the picture is not that's the knife out of the belt and it goes into the backstop. 2 stars

I already keep a knife in all four of my pockets, so for a long time I had to carry the fifth one around in one white-knuckled fist with the blade out. Honestly, if they hadn't stopped letting me into the bank, I would never have gotten this belt buckle, and I would totally be dead right now. The details are too involved to get into in this short review, but let's just say that pants aren't a strict requirement to wear a belt, and there's a one-eyed bear out there somewhere who will definitely think twice before interrupting the annual nude paintball festival again. This product isn't just fashionable, or practical - it just might save your life. 5 stars