American hip hop record label Roc-A-Fella Records has sued its co-founder, Damon Dash, for allegedly trying to mint and sell the copyright for Jay-Z's 'Reasonable Doubt' studio album as a non-fungible token.
According to TMZ, Damon says Jay-Z attempted to buy his share of Roc-A-Fella records for a price that was way too low, so he is out to find a new buyer, and not even a lawsuit from the label will stop him.
Damon's firing back after getting sued by RAF for attempting to sell off Jay's 'Reasonable Doubt' album as an NFT. Dash says that the lawsuit is full of inaccuracies, and it is not the album he is trying to sell, it is his entire stake in Roc-A-Fella.
In fact, Dash claims that as recent as March of this year, Jay-Z attempted to buy his 1/3 share of RAF at, "a price I deemed unacceptable".
Hence Dash is looking for a buyer on his own and 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."
Dash claims the lawsuit filed against him on Friday was only a scare tactic to prevent him from selling something he believes he has the legal right to sell.
TMZ had reported the story that RAF with the help of attorney Alex Spiro has asked the court to step in and stop Dash from selling "Reasonable Doubt" as an NFT and want him to turn over any NFTs he may have already minted.
( With inputs from ANI )
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