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…