I suspect the purpose of the whole first season will be to gather a fellowship for the Second Age.
One suggestion I saw online was that Meteor Man is Tolkien's Man-in-the-Moon from
Roverandom. I doubt Amazon have the rights to that.
I also doubt the shining item in Durin's chest is the Arkenstone. Amazon don't have the rights to mention that as it's in
The Hobbit.
The fiery pit that consumed Maedhros and his Silmaril was in Beleriand, which was submerged at the end of the First Age. Maglor threw his Silmaril into the sea and the Valar set the remaining recovered Silmaril in the sky. That Maedhros's Silmaril would end up being discovered under the Misty Mountains over a thousand years later and hundreds of miles from where it was lost seems very unlikely but a MacGuffin's gotta do what a MacGuffin's gotta do.