There are few fiction books which have had the impact of the Lord of the Rings on popular culture, and now Tolkien’s Middle Earth has a new currency in the form of the JRR Token.
With the tagline “One token to rule them all”, borrowed of course from the books central idea of “one ring to rule them all”, the JRR Token, which is based on the Binance Smart Chain promises to reward holders, continually add to the liquidity pool, and support charities.
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The LOTR inspired token sees 3% of transaction fees being paid to JRR Token holders, with a further 3% being added to the liquidity pool, thus creating a solid price floor, designed to increase the stability of the token.
Furthermore, another 3% will be sent to a marketing/charity wallet. Basically, read this as marketing for the project, but anything left over would be “donated to a worthy charity”, and although there is no information about what worthy causes it would support, the founders say that all the information ‘would be made visible to the Tokenite community’.
The JRR token presale begins on August 6th, and you can participate by buying on PancakeSwap. You can also read the whitepaper here, although at the time of writing, the Whitepaper doesn’t seem to contain any information as to specifics about what makes the crypto unique and different. But of course, when it comes to popular culture, that isn’t always a consideration. Fans will probably buy it just to own the token, so in that respect it could be a bit of a niche crypto just for fun. But then again, so are most NFT’s right?
The following video teaser has also been released by the team behind the project:
The LOTR inspired token is also being promoted by one of the actors from the huge Peter Jackson films. Billy Boyd, who played Peregrin “Pippin” Took in the films went on twitter to talk about the token. Although he’s smart enough not to tell fans to actually BUY the token, he’s says he thinks it’s going to the moon and back again.
However, with the announcement of the token, many Tolkien fans took to twitter to give some often quite negative feedback to the project, with many saying that the author wouldn’t have approved, and some even alluding to the fact that the Tolkien estate might have something to say about it.
Ultimately, a lot of die-hard fans are saying this is a pump and dump scheme, and it’s likely that with just one day to go before the pre-sale, and with low numbers of followers on Twitter that the crypto won’t go anywhere. I guess we shall just have to wait and see if the journey is a fruitful one, or whether it is going to end up burning in the fires of Mordor.