Def Jam Records founder Russell Simmons is entering the NFT business. The hip-hop pioneer will be releasing a a rare collection of the non-fungible tokens on Friday.
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Russell Simmons To Launch NFT Collection
The collection will be called “Masterminds of Hip-hop,” and is the first of it’s kind. It features rare unreleased music, recordings, and artwork from fellow pioneers of the genre.
The NFTs will feature never-before-seen or heard recordings and artwork from artists such as Public Enemy’s Chuck D., Doug E. Fresh, Big Daddy Kane, MC Lyte, Nikki D, DJ Hollywood, Busy Bee and Grandmaster Caz. (PageSix)
Simmons spoke on the importance of the collection as well. He added in how many artists never received the praise or credit they deserve, and that this is his chance to help out with that.
“I often think of the early days of pre-recorded hip-hop when it was only a performance art. There were rappers and DJs who pioneered the space and made it so popular that the recording of rap artists was imminent. None of them has received the accolades that I believe they deserve and this is my chance to use a new vehicle to revisit and repay these amazing artists while they are still living.” – Russell Simmons
Dame Dash Exposes Truth In NFT War
Simmons isn’t the only hip-hop figure involved in the digital currency space, but it hasn’t all been good and flowery. Music executive Damon “Dame” Dash has refused to staying silent in an overnight NFT war against ex-business partner JAY-Z and Roc-A-Fella. The Harlem native came forward in June 2021 to clear his name after getting dragged for allegedly trying to sell Young Hov’s Reasonable Doubt album without permission.
According to Dame, JAY tried to buy his share of Roc-A-Fella songs for an unbelievable unreasonable price. The offer has forced him to continue looking for suitable buyers despite facing legal heat from the Roc.
Dash tells us the lawsuit is full of inaccuracies, and it’s not the album he’s trying to sell … it’s his ENTIRE stake in Roc-A-Fella!!! In fact, Dash claims as recently as March of this year, Jay-Z attempted to buy his 1/3 share of RAF at, “a price I deemed unacceptable” … so he’s looking for a buyer on his own. If he comes to an agreement with someone, Dash says, “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.” (TMZ)
According to recent reports, Dash was doing the most by trying to secure a sale courtesy of a non-fungible token (NFT) of JAY’s 1996 Reasonable Doubt debut album. The Roc believes Dame doesn’t have the right to mint the LP because it owns it.
According to the docs — filed by powerhouse attorney Alex Spiro — Damon planned to sell the album as an NFT at a since-canceled auction, but the company is worried DD will just try to find another platform to hold the auction. In the suit, RAF claims Damon is “frantically scouting for another venue to make the sale” and believes DD is still looking to cash in ASAP on the recent NFT craze. RAF’s asking a court to step in and stop Damon from going through with the auction and it wants Dash to turn over any NFTs of “Reasonable Doubt” he may have already minted. (TMZ)
Tory Lanez’s Next Album Is 100% NFT-Friendly
Rap crooner Tory Lanez is super serious about how he’s putting his music out right now. The hip-hop heavyweight recently announced plans to release a non-fungible token (NFT)-type new project following retail-friendly Playboy and Loner studio capsules.
“OMGSH !!!!! 🍾🍾🍾🍾🍾🍾🍾🍾 ITS OVER 🔥🔥🔥🔥🔥 READ THIS ARTICLE !!!”
According to a press release Lanez plugged, the new power move will have his album land exclusively on a non-traditional platform.
Vinco Ventures, Inc. (NASDAQ: BBIG) a leader in selective acquisitions who leverage new market opportunities by utilizing the B.I.G. Strategy: Buy. Innovate. Grow. today announced that its subsidiary, Emmersive Entertainment, is set to release an exclusive NFT from superstar rapper, singer, songwriter and record producer Tory Lanez. Tory, who is known for his out of the box creativity, is working in conjunction with Emmersive Entertainment on a creative campaign that is poised to make history with his new album of original songs and accompanying artwork. Being a pioneer in the NFT space, Tory has developed his career as a creative disruptor. Tory’s NFT album will be available exclusively on the upcoming Emmersive Entertainment platform.
Eminem Banks Millions From NFT Drop
Rap mogul Eminem recently partnered with Nifty Gateway to release a series of NFTs, and in one week it was made clear he’s still one of the most popular names in entertainment. The Eminem collection brought in about $1.8 million in sales, surpassing artists like The Weeknd and pop singer Grimes, who recently dropped their NFT collections.
“#SHADYCON Open Editions on @NiftyGateway“