A new cryptocurrency called JRR Token has been announced, which channels the world of Lord Of The Rings created by J.R.R. Tolkien.
The new cryptocurrency was revealed last week when Lord Of The Ring’s actor Billy Boyd posted a 40-second clip promoting the currency. The tweet has since been taken down, but fans of the films and books were quick to criticise Boyd and the cryptocurrency.
JRR Token is a token based on the binance smart chain, which rewards tokenites on each translation. Binance smart chain is a decentralized digital asset exchange that is a new type of blockchain. Blockchains validate the unique element of bitcoins, ensuring that each one is unique, which is what gives them value.
Other currencies include Bitcoin, Binance Coin and Ethereum. Crypto farming has risen in popularity in recent years, which has had a direct effect on the video game industry. Farmers use high-performing graphics cards to farm digital currency, which has led to a shortage of graphics cards.
https://www.youtube.com/watch?v=5pIOTLR0HD8
JRR Token’s first whitepaper explains how the new currency works and starts with the 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.” This is, of course, a play on the famous Lord Of The Ring’s quote imprinted on the one ring which Frodo takes to Mt. Doom.
According to its developer, JRR Token is based on three core principles of speed, safety and error free trading. The white paper alleges that JRR Token holders are “guaranteed to earn additional tokens with every new tokenite who joins our family.”
A JRR Token roadmap sets out the development plans for the currency, including immediate goals like core team development, a marketing campaign and long-term foals like exchange listing and also “the moon”. However, the whitepaper does very little to explain how the tokens actually work.
From a legal perspective, the JRR Token developers are skirting copyright infringement. Every aspect of the cryptocurrency’s branding is distinctly similar to the Lord Of The Ring’s, from font type through to using music that sounds very similar to Concerning Hobbits from The Fellowship Of The Ring. J.R.R. Tolkien’s estate is particularly protective of the Lord Of The Rings brand, and has undergone numerous lawsuits in the past.
Elsewhere, Take-Two Interactive has once again taken down several fan-made GTA 3, Vice City and San Andreas mods, further adding to the speculation that the publisher could release remakes of each game.
