The Bloodstone Scepter is an object involved in the Gauntlet of Fire.
The Bloodstone Scepter is a staff made up of crystalline rock, with a magic-enpowered bloodstone at the center to use as its power. It is unclear exactly what kind of magic it does, but the bloodstone can be used on a Warp Pad to make one active again, in the case of Chrysalis's newly constructed one.
The Scepter appears in the Gauntlet of Fire in "Dragon Lord" as the grand prize, and the deciding factor on who will be the next Dragon Lord of Equestria. However, a Changeling steals its bloodstone, and destroys it before anyone could get it, cutting the event short.