Update 06/20/2021 1:44pm:
According to reports, Damon Dash was sued by Roc-A-Fella Records after they claimed that Dash tried to sell Jay-Z’s debut album ‘Reasonable Doubt” as an NFT. An auction for the token form of the album was supposed to take place but was promptly canceled. Now, Dash has responded to the reports after being hit with the lawsuit.
Damon Dash claims that the lawsuit is wrong, noting he’s not trying to sell the album but is actually looking to sell his entire stake in Roc-A-Fella Records. Dash claims that Jay-Z tried to buy his share of the label for a price that was too low, so now he is looking for someone else to buy.
Dash went on to claim that in March 2021, Jay-Z made an offer at “a price I deemed unacceptable,” so his focus is now on other buyers. Dash also said that if he can get into an agreement with a buyer, “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." Dash noted the lawsuit against him is only a “scare tactic” to stop him from selling something he feels he has the legal right to. Stay tuned for more updates.
source: TMZ
Original 06/19/2021 1:06am:
According to TMZ, Dame Dash is being sued by Roc-A-Fella after the record company claimed Dash is trying to sell Jay-Z's debut album, Reasonable Doubt, as a non-fungible token (NFT).
Documents filed by attorney Alex Spiro claim Dame was slated to sell the album as an NFT at a since-canceled auction but the company fears he will sell it on another platform. The suit claims Dame is "frantically scouting for another venue to make the sale" in an attempt to capitalize on the current NFT craze.
Roc-A-Fella is looking for the court to stop Dame from auctioning off the album and to turn over any NFTs he may have already minted of Reasonable Doubt.
Source: tmz.com
