Roc-A-Fella Records is suing its co-founder Damon Dash, who it claims was planning to auction the rights.
Roc-A-Fella Records has convinced a New York federal judge that Jay-Z’s first album shouldn’t be sold as an NFT -- at least for the time being.
The label sued its co-founder Damon Dash on June 18, alleging he was trying to sell virtual ownership of the Reasonable Doubt copyrights. NFTs, or non-fungible tokens, are effectively digital data that represents tangible items.
While Dash has disputed that he was trying to sell rights in the album, according to the complaint, investor platform SuperFarm made this announcement: “SuperFarm is proud to announce, in collaboration with Damon Dash, the auction of Damon‘s ownership of the copyright to Jay-Z’s first album Reasonable Doubt. This marks a new milestone in the history of NFT’s, entitling the new owner to future revenue generated by the unique asset.”