Magnets. How do they work? We're going to guess magic. This particular set of magnets are pretty darn strong, are able to rotate freely, and conduct electricity. That's a pretty darn good kind of magic, if you ask me.
These snaps feature some pretty strong 18mm diameter magnets that will attach pretty strongly, and need to be pried to get apart. With being electrically conductive and able to still rotate when coupled together, these units open up a schwack-load (a scientific unit of measurement, of course) of possibilities to quickly and easily connect/disconnect components (such as on PCBs and batteries). The overall connection resistance is less than 200 milliohm, and the magnets will couple when closer than 10mm.