*On Tuesday a federal judge temporarily blocked Damon Dash from selling an NFT of Jay-Z’s debut rap album “Reasonable Doubt.”
Here’s more from Page Six:
Manhattan federal Judge John Cronan issued a temporary restraining order that prohibits Dash from selling the album as a non-fungible token — a digital art form traded in an online marketplace — after Roc-A-Fella Records sued Dash over his plan last Friday.
“If the plaintiff’s allegations prove true … the plaintiff is likely to suffer irreparable injuries,” Cronan said of the suit, which alleges Dash is attempting to sell what he does not own.
Another hearing in the matter has been scheduled for next Thursday, according to the report.
As previously reported, Roc-A-Fella Records is suing Damon Dash for trying to auction off Jay-Z‘s ‘Reasonable Doubt’ album as an NFT.
Per TMZ, the record company claims they own the project, so they’re going after Dash for allegedly trying to sell the album to the highest bidder. In the suit, the label accuses Dash of “frantically scouting for another venue to make the sale.”
Dash claims Jay offered him a price that was way too low — so he’s out to find a new buyer — and he’s not fazed by the lawsuit.
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.”
The famed hip-hop producer claims the lawsuit is simply a scare tactic, as he has the legal right to sell what he believes he owns. Roc-A-Fella Records disagrees.
“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,” Dash told Page Six.
“That’s what corporate always does to the independent guy. It’s a case of corporate versus independent and how they try to bully me — but they are trying to bully the wrong one,” he added.