“Now, I’m here to tell you JRR was created with a mind to have a stable and sustainable crypto that would be embraced by adventurous spirits everywhere. Its ‘Tokenomics’ reflect that it will be around for the long haul,” Boyd said. “Do I think they’re going to the moon? There and back again.”
Funny enough, although Boyd ends with a reference to The Hobbit, it could be interpreted as a red flag in the crypto world. After all, if you want a price to go high, or to the moon, in theory I imagine you wouldn’t want the price to go low, or back again. Or maybe that’s just my interpretation.
JRR Token has been preparing to launch for the past few months, according to its website and social media activity. It appears to be yet another hype coin, which are created in the dozens on a daily basis by developers promising big returns. Making hype coins is easy, as explained by the New York Times, and fast. However, the majority of them become worthless after a few weeks.
What’s worrisome in this case though is that JRR Token’s creators got a well-known figure in the Lord of the Rings community to endorse their scam crypto. Even though the reception hasn’t been great, some people might genuinely believe what Boyd is saying and invest their money into JRR Token, which will be available for pre-sale on Friday.
Gizmodo reached out to Cameo for comment on Boyd’s video. We’ll make sure to update this blog if we receive a response.
At the end of the day, it’s likely that JRR Token won’t be around for much longer. Anything related to The Lord of the Rings and its author, J.R.R. Tolkien, is fiercely protected by the Tolkien estate, which isn’t shy about taking out its swords and suing.