Whoever makes the best iPod Nano watch strap will be a very rich man, or woman! There are some watch straps available for the nano but they are just not practical or comfortable yet. The manufacturer who gets this right is going to make a lot of money.
Sell your Rolex watch if you’re lucky enough to have a Rolex, especially an old Rolex and from this money invest into creating the best nano watch strap. You’ll be quids in before you know it!