J. R. R. Tolkien is one of the most famous authors of all time, responsible for the universe “The Lord of the Rings”, which won millions of fans around the world. With all this fame, it’s clear that someone would try to use his name for some eccentric cryptomarket project, however the author’s heirs managed to avoid the development of a cryptocurrency.
The JRR token was released in August with the slogan “One Token to Rule All”, a reference to one of the most famous passages in Tolkien’s book. The currency was created by a Florida programmer named Matthew Jensen.
However, Tolkien’s family was always very protective of the author’s name and works, so it wasn’t long before they demanded the end of the project.
According to Financial Times, Tolkien’s family and the copyright holders of his works and his name even filed a lawsuit against the developer of the token.
However, the lawsuit was resolved through an agreement between the two parties, with Jensen guaranteeing that he will close access to the tokens and will remove any content that may infringe the JRR Tolkien name and any intellectual property related to The Lord of the Rings or The Hobbit.
The coin was launched in Binance Smart Chain, and had many similarities to DeFi designs in the market, including dividends for token holders. During her initial campaign, she was even supported by actors who participated in the film adaptation of the work, such as Billy Boyd, who played the hobbit Pippin Took.
Even with that kind of support, it seems the project won’t leave big losses for investors, after all, as soon as the coin was launched, Tolkien’s family had already contacted the developer and started the process. Anyone who was watching the news knew that this was not a very worthwhile investment.
With that, we will have to wait for a new opportunity to invest (or lose money) in another cryptocurrency that will take advantage of something famous for some project.