It looks a little bit like a traditional record player and I am sure french new media production company Avoka used them as inspiration for creating their interactive sound installation, Dyskograf.
The device has a camera that monitors the turntable and detects marks drawn on paper records. Depending on the location and how they are drawn, the marks tell the custom software to make a different sound.
Why was it created? Their website explains that quite nicely
Through this system, the sequential ordering of music is learnt in a playful way, at the same time creating a unique object, souvenir of the musical composition.
The numeric world is a world of binary choice. The object of DYSKOGRAF is to give room again for accidents in numeric creation, accidents that often favour creativity.
Check it out in action in the video below. I am sure I could create some nice loops with it.