The Lord of the Rings-themed cryptocurrency "JRR Token" has been blocked following legal action by the family and estate of JRR Tolkien, the famed series' author who died in 1973.
"The Fellowship of the Ring," "The Two Towers," and "The Return of the King" are among the best-selling fantasy novels of all time. Director Peter Jackson turned them into a blockbuster trilogy of films.
According to a legal news source, The Tolkien Estate has reached a settlement with Florida-based developer Matthew Jensen over his JRR Tolkien, which was released in August this year.
As per the settlement, Jensen agreed to shut down the cryptocurrency or digital token and delete any content that infringed on the estate's trademark rights to the JRR Tolkien name and intellectual property related to The Lord of the Rings and The Hobbit. He also agreed to foot the bill for the estate's legal fees.
JRR Token's Twitter account, YouTube channel, and website have all been deactivated since then. After filing a complaint with the World Intellectual Property Organization (WIPO) on August 10, the estate successfully recovered the website domain name jrrtoken.com, only four days after Billy Boyd, who portrayed Pippin, backed the token in a 40-second YouTube cameo on August 4. Jensen registered and utilized the domain name in "bad faith," according to the WIPO at the time.
On February 26, 2021, the contested domain name was registered. Jensen changed the domain name to thetokenofpower.com after that. According to the Tolkien Estate, the new website had imagery of rings, Hobbit tunnels, and a wizard who looked suspiciously like Gandalf.