12/7/2023 0 Comments Damon dash![]() ![]() By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties.” ![]() Roc-A-Fella, in its lawsuit, retorted: “The bottom line is simple: Dash can’t sell what he doesn’t own. The newly minted NFT will prove ownership of the album’s copyright, transferring the rights to all future revenue generated by the album from Damon Dash to the auction winner.” “This marks a new milestone in the history of NFTs, entitling the new owner to future revenue generated by the unique asset… Selling the copyright to Jay-Z’s ‘Reasonable Doubt’ as an NFT is a groundbreaking landmark - both for the crypto space and the broader music industry. However, Rolling Stone pointed out that the lawsuit quotes language from an announcement from SuperFarm that seemed very much single out the “Reasonable Doubt” album as what would be up for sale, in an auction that was scheduled for June 23-25 but obviously never happened. “SuperFarm is proud to announce, in collaboration with Damon Dash, the auction of Damon’s ownership of the copyright to Jay-Z’s first album ‘Reasonable Doubt’,” SuperFarm claimed, according to Rolling Stone’s reporting on the lawsuit. And the thing is I own a third of Roc-A-Fella Records and I can sell my third if I feel like it.” “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. “They just said that I tried to sell an NFT of ‘Reasonable Doubt’ and … it’s not true,” Dash told Page Six. ![]() In a Post interview published Monday morning, Dash labeled Jay-Z as a “bully” and a “liar.” The once-independent Roc-A-Fella was created by Shawn “Jay-Z” Carter, Dash and Kareem “Biggs” Burke in 1995, and became a division of Def Jam in 1997 in a sale where its co-founders sold half of Roc-A-Fella to the larger label for a reported $1.5 million. Dash further claimed that Roc-A-Fella’s lawsuit filing was nothing but a “scare tactic” to prevent him from selling something he believes he has the legal right to sell. “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 told TMZ. Dash claimed that, as of March 2021, Jay-Z had actually attempted to buy out his 1/3 share of Roc-A-Fella at “a price I deemed unacceptable” and said that he is now seeking his own potential buyers. While an attempted NFT auction has been canceled, the lawsuit noted, the document stressed that Jay-Z’s former partner is “frantically scouting for another venue to make the sale.”įollowing the news of the legal complaint filed by attorney Alex Spiro in New York’s Southern District Court, Dash maintained that the suit fundamentally misunderstood what was at stake. In legal documents examined by multiple publications, Roc-A-Fella responded to what the company maintained was Dash’s attempt to profit off “Reasonable Doubt” - Jay-Z’s first album - in non-fungible token form, reiterating that the rights to the album belong to the label. ![]()
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