AceShowbiz - Damon Dash has proceeded with an auction to sell his share of Jay-Z's album "Reasonable Doubt", despite legal action from the rapper.
The 1996 debut was a huge success for Jay-Z, and went on to sell over a million copies. Last month (June 2021), Jay-Z filed a lawsuit against Dash, claiming that he'd been trying to sell the copyright for the album as a NFT (non-fungible digital token) without permission at an online auction on June 23.
While that auction was canceled, attorneys for Jay-Z claimed that Dash was looking for somewhere else to try and sell the NFT, and sought to prevent any attempts to offload the copyright. Dash then alleged that he hadn't been trying to solely sell the "Reasonable Doubt" NFT but also his share - a third - of Roc-A-Fella Records.
And despite the fact the lawsuit remains ongoing, Dash has decided to go ahead with the auction anyway, and has listed his share of Roc-A-Fella, and the NFT - its sole asset - with a starting price of $10 million (£7.3 million).
"Damon Dash is auctioning his 1/3 interest in Roc-A-Fella Inc, which owns Reasonable Doubt, Jay-Z's first album," the auction listing reads. "Own a moment in time when Reasonable Doubt changed hip-hop culture. The album that influenced and touched so many lives."
The auction has two separate closing dates listed - July 23 at 5 P.M. PT, and July 26 at midnight, and can be viewed at NFT market OpenSea.
About his dispute with Jay-Z over the selling of his share, Dash told Variety, "I didn't get caught selling my third before this because I didn't try to sell my third before this. I'm not trying to sell everybody else's third. Just mine. So, that's a win for me. I'm gonna sell it without anybody bothering me."