I think some men wear it to avoid office gossip about who is single or married. Office gossip is nasty and if you're not leading the perfect life of wife-husband and 2 kids you are going to be talked about.
I gotta say, Punt is not a jewellry guy. No oh. Nah Uh. Just don't dig the feel and weight of it. Having said that, I have found that when I wore a band decades ago, a lot more women hit on me. First, I assumed that meant I was safe and predicatable. But having talked it through (over many tequilla shots), it seemed to boil down to female competitiveness. Yes! Men are not the only competitive overlords on the planet, although we are constantly reminded that it is one of our many masculine failings. We best each other in sports of any form whatsoever. If I can flip a maple leaf six metres and have the stem land in the neck of a Moosehead bottle, then my buds won't rest until they hit seven metres with a half-twist on the trajectory. But women? Holy cornhole batman! They are not satisfied until the they fuck the hottest guy on the planet, ipso-facto making them better than all other women who have fucked him before. (sorry, the truth is not always pretty; the dna speaks volumes though).
Once, in our twenties, my buds and I went out to the clubs on a lark. Jimbo found a craft store with fake gold wedding bands. We bought a gross, split the rings with a band-saw, and went out with ten gold rings each--one on each finger. It was sick, but we all got laid and had phone numbers for the next three months. WTF? We certainly weren't any safer or sexier, but something said 'I got my claws on this one, so you better bring some serious game to be worthy of his interest--if you get him, you are a slut 'cuz you sure aren't better than me...". Testosterone is predictable--Estrogen freaks me out!
Vive La Difference!