What is the oldest Lord of the Rings video game?
The oldest licensed Tolkien video game is The Hobbit, an illustrated text adventure developed by Beam Software and published by Melbourne House, released first for the ZX Spectrum in the UK in December 1982. It was converted to most home computers of the era: Commodore 64, BBC Micro, Amstrad CPC, Apple II, IBM PC, Mac, MSX, Oric and Dragon machines among them.
One honest distinction matters here. The Hobbit is a Tolkien game before it is strictly a Rings game: it adapts the 1937 novel The Hobbit, not The Lord of the Rings. The first game adapting The Lord of the Rings itself was Beam's follow-up, Lord of the Rings: Game One, in 1985. If the question means Middle-earth games as a whole, the answer is The Hobbit, 1982. If it means the Rings story itself, the answer is Game One, three years later.
What makes the 1982 game more than a trivia answer is how advanced it was. Its parser, its physics and its independent characters were doing things the form had not done before, and the game sold accordingly. The tiles below stick to what the record documents, including the sales figures, which are large without needing to be inflated.
Why it was ahead of its time
The parser, the physics, and characters with minds of their own