Jay-z suing Dame Dash for attempting to sell Reasonable Doubt copyright as NFT

[Chris Cool]

All he needs is 2/3 to be the majority owner so the 1/3 for damn would've accomplished that

and big was stupid for not taking either, I whole rocafella category is worth more than reasonable doubt

they thinking after jay day reasonable doubt will be worth more and they grand kids will be eating off it, but that probably won't even be the case because it's Jay's less popular album to the mainstream, it's only a coveted in hip hop

and jay wants purely for sentimental value as an artist, he doesn't want to own it for monetary reasons

Dame said it was sentimental for all of them.

 

[Cladyclad]

All he needs is 2/3 to be the majority owner so the 1/3 for damn would've accomplished that

and big was stupid for not taking either, I whole rocafella category is worth more than reasonable doubt

they thinking after jay day reasonable doubt will be worth more and they grand kids will be eating off it, but that probably won't even be the case because it's Jay's less popular album to the mainstream, it's only a coveted in hip hop

and jay wants purely for sentimental value as an artist, he doesn't want to own it for monetary reasons

In my head. I think Dame & Biggs was like “if Jay want this album that much it’s gotta be worth more than we think it is”

 

[African Peasant]

Everyone that was there in the beginning are still around and still do business with Jay, including Biggs.

Because Jay is a billionnaire...

 

[Artificial Intelligence]

.......................

 

[Animal House]

One of the greatest recordings in history?

 

[CrimsonTider]

In a 20 year friendship disagreement and separation will happen. All I know is when biggs was released from prison he came home in a helicopter and was apart of multiple businesses with Jay.

He went crawling back.

Biggs wasn’t fukking with Jay after the roc split, he was selling weed

 

[Master Teacher]

Dame said it was sentimental for all of them.

lmao how, they not artist, they didn't make any beats on that, or write any rhymes or have anything to do with the music lmao

This is what I'm talking about how hip hop ain't respected as art by the so called people who say its their culture

business is business, art is art, trying to take something an artist created from him in anyway shape or form is a violation

and if it was sentimental Dame wouldn't be trying to sell it is an NFT

come on now, we know they did that shyt out of spite for jay and it back fired on them

 

[karim]

Look at these culture vultures

one of the greatest rappers of all time's best album, isn't one of the greatest recordings in history

this an opinion on hip hop forum

it's time we clean house in bytch, get these chumps up outta hhere

reasonable doubt isn't even the greatest recording of 1996

 

[Cladyclad]

reasonable doubt isn't even the greatest recording of 1996

Even if u think that it still don’t change shyt lol

 

[Edub]

I’m sure dame was gonna split the profit made 3 ways

 

[RAX 010]

Fukk Jay for doing Dame like that

 

[EndDomination]

I think he was under the impression that his ownership interest in Reasonable Doubt as an album also goes to the copyright of Reasonable Doubt - and I highly doubt that that is true. He may have an argument than the profits from the NFT simply need to be distributed properly and that he does have an ownership interest in the copyright - I'm not an IP lawyer so I have no idea how valid that argument is with NFTs - but he should have consulted with legal counsel prior to attempting this.

 

[EndDomination]

Non Fungible Tokens

So basically let's say I'm an artist / painter and I drew a picture of a sunset and wanted to sell it. I'd go to an auction house and people would bid and I'd get paid off the sale. Cool.

NFT's is the exact same thing but just with digital stuff online.

So let's say I made a funny cat gif and for some reason people were willing to pay money to "own" this SnowflakesByTheOZ cat gif I can sell it as an NFT.

Now because it's a gif and it's on the internet anyone can just copy it or save image it and it would be pretty much like owning it.. which makes sense.

But NFT's have this thing call a digital signature which is embedded in it by the original creator.

So anyone can save and duplicate the cat gif but there's only one original one that I made.

So whoever buys it will have the original funny cat gif.

And the thing with NFT's is that with every sale of it the original creator gets a share of the sale

So let's say the person that I sold the gif to wants to sell it to someone else... I would get a cut of that. And then if that person sells it to someone else , I get a cut from that etc etc.

This is a great explanation - it's effectively a way to hoard value in something that was presumed to be infinitely copyable.
Digital ownership interests are going to be a problem in the future as more and more of the internet is squeezed for every drop of capital, but I do think it's important to allow digital creators to retain some real value for the works they've created.

 

[EndDomination]

Coli lawyers chime in, but isn't this technically embezzlement?

Close, honestly it just looks like attempted "conversion" considering the NFT wouldn't be divisible and would effectively destroy the "value" of any copy of Reasonable Doubt, I honestly have to read some of the law review articles on this - NFTs and intellectual property law is a rapidly evolving field right now.

 

[dh86]

Dame HAD to know that in no shape form or fashion was Jay going to allow this to happen…




So either Dame is just fukking with Jay for the hell of it or Dame is SUPER desperate for a cash infusion and just said “fukk it”.


That deal Jay offered Dame and Biggs for complete ownership of RD a few years ago probably looking like a GREAT idea now

I assume he thought he’d hurry and get the money before the lawsuit