Tolkien Estate Blocked the Release of JRR Token Dedicated to Lord of the Rings
The Tolkien Estate has filed a lawsuit against the developer of the JRR token, which was based on the world-famous novel by John Ronald Reuel Tolkien, The Lord of the Rings.
On November 23, Law360 reported that the Tolkien Estate had reached an agreement with Florida-based developer Matthew Jensen over its JRR token, which launched in August 2021. According to BSCScan, the BEP-20 token is only held at 510 addresses, with a market supply of $19 trillion.
According to the agreement, Jensen has promised to close the token and remove any content that infringes Tolkien’s name and intellectual property relating to The Lord of the Rings and The Hobbit. He also agreed to pay some legal fees.
Since then, the JRR Token Twitter account and YouTube channel and website have been removed.
On September 9, JRR token announced plans to release in early 2022 a digital PvP card game called Dawn Rising, where players will be able to place bets with their JRR tokens. Within the framework of the JRR Token project, nine intangible tokens (NFT) have already been put up for sale on the OpenSea trading platform with a trading volume on the account of 0.18 ETH, or about $4200 at the time of the report.