New York Court Suspends Sale of Jay-Z's Tokenized Album
A New York court has temporarily blocked an attempt by Roc-A-Fella Records Inc (RAF) co-founder Damon Dash to sell a tokenized version of Jay-Z's first album, "Reasonable Doubt," along with copyright. The ban is in effect until the next hearing on July 1.
Rapper Jay-Z co-founded RAF with Damon Dash and Kareem Burke back in 1996. The record label has split ownership between the three co-founders, with the company owning the full copyright for the album. Dash is believed to have attempted to sell a tokenized version of the album and the copyright on the NFT platform SuperFarm on June 23rd. Although the auction was canceled, the prosecution claims that Dash is trying to organize another auction.
The lawsuit, filed on June 18, contains a number of claims against Damon Dash, including breach of fiduciary duties, unfair enrichment, conversion and replevin. However, Dash himself criticized the lawsuit, stating that he never released the album as NFT, but only tried to sell his stake in the company.
Back to the list