According to a report on Pitchfork, Roc-A-Fella Records has sued Damon Dash, the Co-Founder of the company. The allegations made against the Co-Founder are his attempt to auction the rapper Jay-Z’s album as NFT. The album was released in 1996, and this development has led to the cancellation of the auction. However, it has also been reported that Dash is trying to find an alternative value to go ahead with the auction process.
On his behalf, Dash has tried to clear the air claiming that the allegations made by the Roc-A-Fella have no substance. It is important to note that Dash has remained in the business partnership with Jay-Z and been closely associated with the organization of the artist’s tour. Dash had also produced the Reasonable Doubt album of the rapper, and since then, his relationship with the artist has gone sour.
Non-fungible tokens (NFTs) have soared in popularity and have been widely used by artists all across the globe to protect their fair share of due from their artistic works. It has been rising the popularity ladder, and thanks to its ability to be unique in nature, these are emerging as a credible option for artists. Artists can easily monitor their artistic work through NFTs, and the best part is that they will still be able to keep their own identity through this concept. No wonder NFTs are touted to be a game-changer that the music and entertainment industry has always been vying for.