Def Jam founder Russell Simmons wants to give back to hip-hop pioneers with a collection of NFTs.
On Friday, Simmons will launch a collection of NFTs or non-fungible tokens that will feature some of hip-hop’s biggest OGs. Page Six reports that they will feature never before seen or heard recordings and artwork from Big Daddy Kane, MC Lyte, Doug E. Fresh, Grandmaster Caz, and more.
A source told the outlet that even though some more prominent names are attached to the drop, the series, titled Masterminds of Hip-hop, will also pay homage to some lesser-known founding fathers.
“I often think of the early days of pre-recorded hip-hop when it was only a performance art. There were rappers and DJs who pioneered the space and made it so popular that the recording of rap artists was imminent,” Simmons said in a statement.
He added, “None of them has received the accolades that I believe they deserve, and this is my chance to use a new vehicle to revisit and repay these amazing artists while they are still living.”
NFTs are a digital asset that exists on the blockchain. The digital files will be available for purchase on the Tokau platform. The release is set to be the first wave, likened to a sneaker release. Future collections are rumored to feature artists like Snoop Dogg.
Simmons will attend the launch party this week in New York, a rare public appearance since he was accused of sexual assault a couple of years ago.