Roc-A-Fella Records Sues Dame Dash for Trying to Sell Jay-Z’s Reasonable Doubt Album as NFT
UPDATE (June 22):
On Tuesday morning (June 22), a source tells XXL that a restraining order has been placed on Dame Dash prohibiting him from being able to auction off Jay-Z's Reasonable Doubt album as an NFT.
According to the source, the judge said, "Mr. Carter’s arguments were deemed credible and correct."
Additionally, Dame cannot sell his one-third share in Roc-A-Fella Records or his share in Hov's debut LP. Jigga's former righthand man has a minority stake in the company and the sale requires majority approval.
UPDATE (June 20):
Dame Dash is refuting a recent lawsuit that was levied against him by lawyers for Roc-A-Fella Records. According to TMZ, Dame says he is trying to sell his entire stake in Roc-A-Fella Records, not just an NFT of the Reasonable Doubt album.
The Roc-A-Fella cofounder claims Jay tried to buy his stake in the company a few months back, but the offer was "unacceptable." Dame is now reportedly looking for a new investor to buy his one-third ownership in the company. "Under the terms of the deal with a potential buyer, the buyer would buy my share of Roc a Fella Records and Jay-Z will have exclusive administration rights," Dame says.
Dame claims the recent lawsuit is an intimidation move to try and prevent him from selling his portion of the company.
Lawyers for Roc-A-Fella Records are suing Dame Dash to block his attempt to sell Jay-Z's debut album, Reasonable Doubt, as an NFT.
Dame finds himself on the wrong end of a lawsuit levied by lawyers of the record label he helped cofound, XXL has confirmed on Saturday (June 19). The label's lawyer, Alex Spiro, has filed a suit against Dame, accusing him of trying to mint the critically acclaimed LP as an NFT—non-fungible token—and auction it off for top dollar. The suit claims Dame has no right to do this since the album is owned by Roc-A-Fella Records.
The court filing claims Dame already set up an auction to sell the album that has since been canceled. Roc lawyers believe Dame will try to get another platform to conduct the sale. The documents allege Jigga's former best bud is "frantically scouting for another venue to make the sale."
The suit is asking the court to stop the sale of the NFT album and also seeks to have Dame turn over any NFTs of the album he's already had minted.
XXL has reached out to Jay-Z's team comment.
Rappers have been cashing in on the NFT craze recently, which allows a seller to turn an item into a digital collectable with proof of authenticity and can be bought via blockchain.
Though once friends and business partners, Dame and Jay's relationship soured in the mid-2000s, following the sale of the label by Jigga to Def Jam Recordings in 2004.
This is the second Jay-Z-related lawsuit to pop up in the last several days. Earlier this week, it was revealed Hov is suing famed hip-hop photographer Jonathan Mannion over the use of photos involving the Reasonable Doubt album cover.