JRR Token: Tolkien heirs sue Lord of the Rings coin

The JRR token has been withdrawn from trading following a settlement between its developer and the heirs of author J.R.R. Tolkien.

The JRR token, named after J.R.R. Tolkien, author of the fantasy novels The Lord of the Rings and The Hobbit, has been forced to cease trading. The reason is a lawsuit filed by the family of the author, who died in 1973. On November 23, Law360 reported that the Tolkien estate had reached a settlement with the Matthew Jensen, the developer of the JRR token. According to BSCScan, the BEP-20 token is only showing up in 510 wallets, with a total supply of 19 trillion. BEP-20 is a developer-friendly token standard that allows fungible digital currencies, or tokens, to be implemented on the Binance smart chain

The settlement says Jensen will immediately suspend trading in the JRR token. At the same time, he said he would delete all content that infringes trademark intellectual property rights related to The Lord of the Rings and The Hobbit. Furthermore, he agreed to pay for the legal costs. Token’s Twitter account, YouTube channel, and website are also affected.

Is JRR Token easily confused with JRR Tolkien?

Jensen’s defense had sought to argue that the domain name JRR Token was not identical to the trademarked name JRR Tolkien. Moreover, due to the missing letters “L” and “I” and the associated different pronunciation, there was also no likelihood of confusion. However, the judges apparently saw this differently.

There is no doubt that the defendant knew of Tolkien’s works and created a website to trade on their fame. Moreover, the fact that the website under the disputed domain name contains multiple references to Tolkien’s work supports a finding of confusing similarity.

, according to World Intellectual Property Organization (WIPO) panel member John Swinson. Jensen’s other domain – thetokenofpower.com – he apparently moved to an unused WordPress site. A Twitter account called @thetokenofpower was also recently closed by Jensen. A happy ending definitely looks different.

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