22/06/2021 An NFT of Jay-Z’s first album has sparked a record label lawsuit

Roc-A-Fella Records (RAF), co-founded by hip-hop mogul Jay-Z, has sued fellow co-founder Damon Dash for allegedly hawking a non-fungible token of Jay-Z’s 1996 debut album Reasonable Doubt.

The lawsuit claims Dash partnered with platform SuperFarm to auction an NFT of Reasonable Doubt, following a well-trodden path of selling art ownership via NFT. It quotes a purported SuperFarm press release calling the sale “one of the most significant NFT auctions to date,” since it would transfer “the rights to all future revenue generated by the album from Damon Dash to the auction winner.” That’s an unusually sweeping promise for an NFT. “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,” the statement apparently continued.

But Roc-A-Fella’s lawyers say this wasn’t Dash’s product to advertise. Dash owns a minority share in RAF, but the suit says that gives him “no right to sell a company asset” as an NFT or otherwise. SuperFarm canceled the auction at RAF’s request, but the label claims Dash is trying to find a substitute venue. RAF wants Dash to hand over any NFTs he’s minted based on Reasonable Doubt, plus monetary damages. “There is only one Reasonable Doubt — the rights to it are irreplaceable,” the complaint notes. “The bottom line is simple: Dash can’t sell what he doesn’t own.”

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.

The case is unrelated to another recent lawsuit where Jay-Z accused Reasonable Doubt cover photographer Jonathan Mannion of exploiting his likeness.

As NFTs have blown up in popularity, related lawsuits are starting to appear in court. This suit seemingly hinges on the nebulous description of Dash’s NFT. You can parse SuperFarm’s alleged product description to fit Dash’s claim, for instance: if you buy this NFT, you’ll get any revenue that Dash himself would have earned from the album copyright. But you can also interpret it as a full-fledged sale of the copyright, and the press release’s title promotes an “auction for Jay-Z’s iconic album Reasonable Doubt.” In any case, NFTs are supposed to confer a sense of airtight ownership and exclusivity — and auctioning off a partial stake in an iconic album doesn’t have quite the same ring to it.


Interesting NFTs
Ugh! I'm King. I've never told anyone this, but I once bit a dog. I once bit a dolphin. I don't like to talk about it. Will you be the marmite to my ghost pepper hot sauce?
・゜゚・:.。..。.:*・'(゚▽゚)'・*:.。. .。.:*・゜゚・* for more info see https://tinyurl.com/56unnr39
By OthersideDeployer
Who will be the most Meowfool of the Meowfoolest?! 6 HaCKittieZ are fighting for the crown of madness! It is time for crowns to change their history: people, this is the crown of insanity we are talking about. So tell us, who is insaner than the insanest of collectors? Only the artists - the creators - would know, while crowning the one who is brave enough to play with the craziest possibilities of Async programmable art, on these 6 HaCKittieZ. Welcome to the feast of fools. HaCKittieZ is a collaboration of Hackatao, CryptoKitties and Async. The 6 KittieZ are a reinterpretation by Hackatao of the CryptoKitties’ classic elements, following their own style and getting inspiration from their own art pieces.
Crypto Toy Coin
This piece represents the creation of a new "Visual Toy", a term created by me to encompass my unique and exclusive GIF-Arts. The latter, "Crypto Toy Coin" is the only and first in the cryptocurrency theme. In it I represent the fast-paced world of finance in the virtual environment, the Internet with its universe of colors and infinite visual impact, an optimistic and exciting future, a world of possibilities that opens before us. These "Visual Toys" invite you to imagine, that is their function, that is the game. The ultimate goal is that you imagine, that it is you who gives it meaning. There are no good or bad answers, just the projection of each one. I've only created the trigger, the piece where you can project your imagination and let it fly.