Whew! Jay-Z and Roc-A-Fella records have finally come to an agreement with Dame Dash amidst the ongoing beef between the two. Now I am not sure if y’all remember this or not, but late last year, it was reported that Jay-Z was suing Damon Dash for allegedly trying to steal and sell the copyright to Jay-Z’s debut album “Reasonable Doubt.” It was alleged that Dame was trying to sell the album as a NFT…here goes that acronym again…without permission during an online auction on the platform “SuperFarm.”
Welp, about 2 weeks ago or so, a judge ruled in favor of Roc-A-Fella and prohibited Dame from minting and selling the album as a NFT according to Rolling Stone. Dame claimed that the lawsuit was full of lies as he wasn’t trying to sell a NFT of Reasonable Doubt, but rather his stake in Roc-A-Fella after the label supposedly offered him a low-ball amount for this stake in the company.
Roc-A-Fella Records was co-founded by Jay-Z, Dame, and Kareem Burke of which the equally shared 1/3 interest and ownership in the company. However, the lawsuit notes that Jay’s original deal with his label stipulated that RAF, Inc. would be the sole owner of the rights to his albums, including Reasonable Doubt. The Roc-A-Fella lawsuit retorts: “The bottom line is simple: Dash can’t sell what he doesn’t own. By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties. His planned auction of Reasonable Doubt would result in irreparable harm. The Court should stop Dash from attempting to sell the copyright to Reasonable Doubt, require Dash to return the NFT of Reasonable Doubt to RAF, Inc., and hold him accountable for his brazen theft of RAF, Inc.’s most prized asset.”
Moral of the story here is, you can’t sell what you don’t own…100%. I’m glad they were able to settle this and hopefully Jay and Dame can figure out a way to mend their differences.