As the world of cryptocurrency steadily grows, it is not unexpected for new additions to join the list. But what definitely accounts as surprising is the recent debut of a new cryptocurrency known as JRR Token. Yep, you heard that right. And the name of the author of the Lord of the Rings universe i.e, J.R.R. Tolkien isn’t the only thing that has been pun-ified as this cryptocurrency has been defined as “The One Token To Rule Them All” and has been promoted by Billy Boyd, the actor who played the hobbit Pippin Took in Peter Jackson’s cinematic adaptation of the books.
The new cryptocurrency was unveiled by Billy Boyd in a 40-second clip posted on JRR Token’s Twitter page. The tweet was later taken down but not before the video and its contents spread like wildfire, with The Lord of The Rings fans calling out both Boyd and the creators of the cryptocurrency, cautioning them that this new cryptocurrency is headed for Mt. Doom.
In the video, while Boyd is promoting the cryptocurrency, it appears as if he is merely reading from a script as he highlights how JRR Token was created to have “a stable and sustainable cryptocurrency” for those with an adventurous streak in their souls. He further adds that the cryptocurrency’s “Tokenomics” assures that it is here to stay for a long time. And as if the currency ripping off Lord of the Rings wasn’t enough, Boyd explains that the price of the currency will spike with time via a reference to The Hobbit: “Do I think they’re going to the moon? There and back again.” Now, though this appears to be a prank, in case it’s not, the idea that a cryptocurrency is already aiming to increase its prices only to bring it down doesn’t sound very profitable, does it?
The first whitepaper for JRR Token further reveals that the cryptocurrency is relying on the Lord of The Rings universe a tad too much to achieve success. The whitepaper begins with a play on the most famous LotR quote: “One token that rules them all. One token you don’t mine them. One token to hold for all. And in marketing bind them.” Apparently, JRR Token holders will earn new tokens every time someone new becomes a “Tokenite.” But while the whitepaper details the “what’ about the JRR Token, it barely clears up how it functions.
For now, the only thing that is certain is that if JRR Token isn’t pulled down, its developers will be soon hearing from the Tolkien estate, which guards all the elements in the Lord of the Rings universe with a dogged resoluteness. Every aspect of JRR Token is committing a copyright infringement, whether it is the puns used by Boyd in his video, the quote in the whitepaper mentioned above, JRR Token’s promotional video containing some very explicit Lord of the Rings like fonts, to what sounds like Howard Shore’s The Shire from The Lord of the Rings: The Fellowship of the Ring in the background, not to mention the fact that the cryptocurrency’s name is a play on J.R.R. Tolkien itself. So prank or not, either way, JRR Token’s chances of ever making it to “the moon” appear rather slim.