Jay-Z sues Roc-A-Fella Records co-founder
Jay-Z has filed a lawsuit against Damon Dash, one of the co-founders of his record label Roc-A- Fella Records. The rapper claims Dash is trying to sell an NFT of his debut album Reasonable Doubt without his permission.
Jay-Z his lawyers tried to prevent Dash from selling the NFT
Dash tried to sell Jay-Z's first album from 1995 as an NFT. The owner of Reasonable Doubt's NFT would receive all future earnings from the album, among other things. Dash tried to sell the rights of the album at an auction, but the rapper's lawyers were able to prevent it. Still, he would not have given up on selling the NFT. Although Dash is the co-founder and owner of the now-defunct Roc-A- Fella Records, he does not own Reasonable Doubt. According to Jay-Z's lawyers, he can't sell the copyright, either. The rapper is demanding that Dash stop his attempts to sell it and that any profit will be refunded.According to TMZ, which first reported the lawsuit, Dash has called the lawsuit inaccurate — saying he’s trying to sell his share in RAF rather than the album itself. “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” to the album, he told TMZ. Dash also told the New York Post’s Page Six that “I’m not running around to different places trying to auction off Reasonable Doubt. I’ve been working with one platform and that’s SuperFarm.” He called the suit a scare tactic intended to make him sell his stake in the company
Not the first lawsuit about an NFT
While NFTs have seen an increase in popularity this year, related lawsuits are beginning to appear in court. The first NFT-related lawsuit involved the popular platform NBA Top Shot. The platform got accused of selling securities when it sold non-fungible tokens (NFTs) on its platform. It is very likely that more NFT related lawsuits will appear in the future.Continue reading by joining Cryptonary Pro
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