You must not pass!
Cryptocurrency named “Lord of the Rings” trilogy is considered a trademark infringement, and the estate of author JRR Tolkien was blocked from operating on Tuesday after the digital token creators were taken away.
The coin, known as the “JRR Token”, was founded by Florida-based developer Matthew Jensen and launched in August 2021.
It was widely publicized and came with the endorsement of Billy Boyd, who played Pippin in the “Lord of the Rings” films, in which he stated that “Saruman was trying to consolidate the Middle Earth but wanted fellowship decentralization. Cryptocurrency is literally a decentralized network.
Saruman’s reference to the evil army leader in the trilogy.
But the World Intellectual Property Organization Committee based in Geneva Ruled The digital token was set up for commercial gain on Tuesday and is already considered “confusingly similar” to a trademark owned by the Tolkien estate.
The panel said in its decision, “There is no doubt that defendant was aware of Tolkien’s work and created a website to trade the fame of these works.”
WIPO ordered Jensen to cease operations and delete all infringing content, including social media accounts and websites.
Jensen also paid the legal costs of the estate, the estate said.
Steven Meyer, UK lawyer for Tolkien Estate, said: “The estate is pleased that this is a particularly important case of infringement, and that it has been resolved on satisfactory terms. Said in a statement To LOVEBYLIFE.
Jensen tried to justify his crypto, arguing that it was just a parody of a joke.
“The introductory header on the home page of the website, ‘A Token That Rules Them All,’ quotes the famous phrase ‘One Ring to Rule Them’ … making a humorous distinction to evoke the desired effect of satire,” the developer argued, according to its summary of WIPO’s argument.
However, WIPO’s stakeholders “do not specify why the defendant is a controversial domain name humorous, funny or nail biting, and the domain name was not chosen because of its similarities. [Tolkien estate’s] Trademarks to take advantage of its impetus.