“By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties.
According to the complaint, obtained by Rolling Stone, Dash planned to sell an NFT of the Reasonable Doubt copyright at an auction on the platform SuperFarm, which was set to take place June 23rd through 25th.
Speaking with Rolling Stone, Dash slammed the lawsuit and claimed it was full of inaccuracies.
“When another black man calls another black man a thief, just to make him look bad, and so that they can devalue an asset that that other man owns, just because he won’t sell it to him at a low price — I don’t think the culture needs that,” Dash said.
Jay-Z, Dash, and Kareem Burke co-founded Roc-A-Fella, and while Dash and Jay notably cut business ties in 2005, each of the three founders retains a one-third share in RAF, Inc.
This marks a new milestone in the history of NFT’s, entitling the new owner to future revenue generated by the unique asset… 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.
In turn, the Roc-A-Fella lawsuit retorts: “The bottom line is simple: Dash can’t sell what he doesn’t own.
While Dame confirmed that he was trying to sell his stake in Roc-A-Fella, he called the accusations surrounding the Reasonable Doubt NFT sale “false.” When asked about the SuperFarm auction details cited in the lawsuit, Dash replied: “There hasn’t been an announcement.
They did it on a Friday so it could just run the whole weekend to devalue my auction… It’s not fair to accuse somebody of being a thief publicly that’s not.