Dame Dash is responding after Roc-A-Fella to a lawsuit against him after it's been alleged that he attempted to auction Jay-Z's Reasonable Doubt album as an NFT.
According to TMZ, Dash shared that the initial news of him wanting Jay-Z's album is false and that he only wants to sell his share as a Non-Fungible Token. Forbes describes an NFT as “a digital asset that represents real-world objects like art, music, in-game items and videos.” NFT”s are then bought and sold online, usually with cryptocurrency.
In the lawsuit against Dash, the label states that the media mogul and co-founder of Roc-A-Fella can’t sell the album as an NFT because it’s owned by Roc-A-Fella, TMZ reports.
Responding to if he comes to a new agreement with someone, Dash says that, “Under the terms of the deal with a potential buyer, the buyer would buy my share of Roc-A-Fella Records and Jay will have exclusive administration rights.”
According to Complex, Roc-A-Fella has asked the court to bar Dash from auctioning the NFT and has also requested that he surrender any NFTs created for Reasonable Doubt.
(Photo: Stefanie Keenan/Getty Images for Damon Dash Studios)