The disagreement between Jay-Z and Damon Dash over the Reasonable Doubt NFT seems to be winding down.
According to court documents, the couple is close to striking an agreement in their legal battle over the NFT. In June of last year, Jay-Z filed a lawsuit against Dash. This conflict began when Damon Dash allegedly tried to mint Jay-Reasonable Z’s Doubt album as an NFT.
It seems like they have finally come to an understanding. “The parties are in the process of meeting and conferring to determine whether they can reach an agreement that would obviate the need for [Roc-A-Fella Records, Inc.] to file the motion [for a permanent injunction],” Z’s Alex Spiro, Jay’s lawyer, told the court.
With Kareem “Biggs,” Jay-Z and Damon Dash co-founded the Roc-A-Fella record label in 1995. It was a huge success. They have a long history together, and Damon Dash has been trying to sell his stake in the famous record label. Furthermore, he claims that the NFT of Reasonable Doubt is not the root of the dispute.
Finally, the NFT music scene is rapidly growing and has the potential to transform the industry. There are a variety of NFT music platforms to choose from, and the market is expanding. Notably, the focus of these NFT music platforms seems to be on first and foremost rewarding the artist.
Hopefully, this would result in more financial incentives for their work, which would previously have gone to executives of record companies.