JRR Token is no longer being distributed: the token’s website, YouTube channel, and Twitter (NYSE:TWTR) accounts are also being closed down.
Tolkien’s estate, which takes care of the rights of the late J.R.R Tolkein, author of “Lord of the Ring’s,” claimed that the digital asset infringed upon the trademark.
The token was launched in August 2021 and combined online gaming, in-game crypto wagers, and NFT utilization.
Developers called their project “The One Token That Rules Them All.” The coined phrase was made in reference to the famous quote “one ring to rule them all,” from the genre defining fantasy novels.
The token’s website displayed many creatures, such as images of wizards, rings, and Hobbit holes, created by the famous writer.
The domain’s name, JRR Token, also bore resemblance to the author’s name – J. R. R. Tolkien.
Allegations made against them proved that the developers of JRR Token were making money from the late author’s names and creations, without the rights or licensing to do so.
“There is no doubt that the Respondent was aware of Tolkien’s works and created a website to trade off the fame of these works,” WIPO (World Intellectual Property Organization) panel member John Swinson concluded.
On The Flipside
- Intellectual property laws and WIPO are adapting to the crypto world.
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