Tolkien Estate Shuts down Lord Of The Rings Cryptocurrency
The JRR Token is well-known. The JRR Token was a cryptocurrency named after the author of The Lord of the Rings and aimed to be the “One Token That Rules All”. It flew too close to the sun and was squashed by Tolkien.
Even though the endorsement was from Billy Boyd (who plays Peregrin “Pippin”) Took in the films), it didn’t convince many people to join. The erratic nature of cryptocurrency, their propensity for volatility and falling in value, as well as the themes and ideas of the books that contrast with cryptocurrency’s very concept, are all part of it.
You might be shocked to know that bitcoin has a significant impact on the environment if you don’t know much about it. An earlier report found that bitcoin produces 36.95 megatons annually of carbon dioxide, roughly equivalent to New Zealand’s annual output. It’s the same as a whole country. Proponents often choose expensive GPUs to mine the most crypto. This heavy use of the component causes them to fail much sooner than their lifetime would permit.
The books have environmental themes. For example, the Shire lives in harmony with the land’s capabilities and the beauty Lothlorien offers. The Lord of the Rings has a scene where the Ents battle Saruman’s forces to stop the Orcs’ mines’ destruction to their home.
The JRR Token was shorthand, not a good looking thing. The Tolkien estate accepted the complaint and filed it through the World Intellectual Property Organisation (thanks Financial Times). The creators’ lawyers countered that “token” is a generic term that doesn’t infringe any intellectual propriety.
The administrative panel concluded that the name choice was deliberate as the creators knew about Tolkien’s works and created a website to profit from them.