Reported at The Verge
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.”
