Roc-A-Fella Records has filed a lawsuit against former joint owner Damon Dash for his attempt to sell Jay-Z’s “Reasonable Doubt” album as an NFT, Pitchfork reported.
An NFT is a non-fungible token and is comparable to cryptocurrency in the music industry. Roc-A-Fella claimed in its lawsuit that when Dash attempted to sell the album at a now-canceled auction, he could not because the album is still owned by the label.
“Dash is frantically scouting for another venue to make the sale. … The sale of this irreplaceable asset must be stopped before it is too late, and Dash must be held accountable for his theft,” the lawsuit claims.
However, Dash has struck back, saying that the claims that Roc-A-Fella has made are untrue.
He claimed that he is merely trying to sell his share of the label and that back in March, Jay-Z offered him an amount that he deemed “unacceptable” due to how low the offer was. The offer was $1.5 million. Dash has decided to shop for a buyer on his own.
Dash, Jay-Z and Kareem Burkes founded Roc-A-Fella in 1995 and saw years of success with artists and albums that were wildly popular such as “Reasonable Doubt.” That album was what skyrocketed Jay-Z’s career and inarguably helped pave the path to the billionaire status he enjoys today.
In an exclusive with Page Six, Jigga’s former business partner insinuated that his former friend and business partner is a bully who has only filed the lawsuit to stop the sale of Dash’s third.
“That’s what corporate always does to the independent guy. It’s a case of corporate versus independent and how they try to bully me — but they are trying to bully the wrong one,” Dash said.
He added that Jay-Z “don’t want nobody to eat but him.”
Jay-Z has not publicly commented on any of Dash’s claims as a business entity nor for himself.
