The Lord of the Rings-themed "JRR Token" has met a "bag terminate" after existence forced to close up shop post-obit legal action from the family and manor of the famed series' author. J.R.R. Tolkien, who died in 1973.

On Tuesday, Law360 reported that the Tolkien Estate had reached a settlement with Florida-based developer Matthew Jensen over his JRR Token, which was launched in August this year. Co-ordinate to BSCScan, the BEP-20 token is only held by 510 addresses, with a market supply of 19 trillion.

Co-ordinate to the settlement, Jensen promised to shut down the token and delete any content that infringes the estate'southward trademark rights to the J.R.R. Tolkien name and intellectual property relating to The Lord of the Rings and The Hobbit. He also agreed to pay the estate'south legal costs, which were undisclosed.

The JRR Token's Twitter account, YouTube channel and website have since been deleted.

The estate'due south lawyer, Steve Maier, described the example as a "particularly flagrant case of infringement," calculation that the estate is "pleased that it has been concluded on satisfactory terms."

This comes after the estate successfully recovered the website domain name "jrrtoken.com" after filing a complaint with the World Intellectual Property System (WIPO) on Aug. 10 — only four days after Baton Boyd, the player who played Pippin, endorsed the token in a 40-second YouTube cameo on Aug. 4.

At the fourth dimension, WIPO ruled that Jensen registered and used the domain name in "bad faith." The disputed domain name was registered on Feb. 26, 2022.

Following the ruling, Jensen changed the domain proper noun to "thetokenofpower.com." All the same, according to Tolkien'due south Estate, the new website still included images of rings, Hobbit holes and a wizard with a striking resemblance to Gandalf.

Jensen'south lawyers argued that the disputed domain name JRR Token "is non identical or confusingly similar" to the Tolkien manor's trademarked JRR Tolkien because it doesn't contain the additional letters '50' and 'I' and is also pronounced differently."

Source: JRR Token

They also claimed that he selected the domain name because JRR stands for "Journey through Risk to Reward," and "jrrcrypto.com" was unavailable.

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However, they weren't able to persuade WIPO console member John Swinson, who said that the "website is clearly a commercial venture, which is clever but not humorous." He added:

"There is no doubt that the Respondent was aware of Tolkien'south works and created a website to trade off the fame of these works."

On Sept. 9, the JRR Token announced plans to release a player-versus-player digital card game chosen Dawn Ascension in early on 2022 where players could wager their JRR Tokens. The TRR Token project had already listed 9 nonfungible tokens (NFT) for sale on the OpenSea marketplace, with an account trading volume of 0.18 Ether (ETH) or effectually $four.200 at the time of reporting.