I hate to be the one to tell you this, but there’s a cryptocurrency themed after The Lord of the Rings. It’s dubbed the JRR Token, and its creators have called it “The One Token That Rules Them All.” Upon learning about it, my snap judgment was that it’ll be like The Hobbit’s trilogy of films (pointless and doomed to fail), but that may be unfair. Let’s take a look at the video its creators made to explain what makes it special:
Okay, wait. Before we even go into the crypto stuff, I’m wondering what the legal situation is with this video — the video includes images of rolling green countryside overlaid by very Lord of the Rings-esque text, while what sounds like a piano rendition of Howard Shore’s The Shire plays. Even if those don’t turn out to be infringement, they’re definitely banking on confusion with JRR Tolkien’s name. That doesn’t seem like the kind of thing the Tolkien Estate would let slide without a fight.
Let’s put all that aside for now. What’s JRR Token all about? The website and video say that “Tokenites,” or anyone with tokens, will get more of those tokens as more people use the network. It also says that a portion of every transaction will be added to a “liquidity pool,” which I’m sorry to say doesn’t have anything to do with that terrifying scene of Galadriel showing Frodo the Scouring of the Shire. If you’re wondering how its “Tokenomics” work out to making it a functional currency, I am too — but reading the token’s whitepaper, and through some of the FAQ for the Binance platform (which JRR Token is built on) didn’t clear things up.