JAY-Z, Dame Dash Discuss Settling Legal Battle Over 'Reasonable Doubt' NFTs

UPDATE: Dame Dash has responded to the reports about deliberations over his legal battle with JAY-Z and Roc-A-Fella. In an Instagram post uploaded Thursday, March 17, Dash said that neither party is "no where near a settlement."

"Please don’t believe this hype we are no where near a settlement," Dash wrote in the caption. "They accused me of doing something i did not do and now they have to prove it…and i can sell my share anytime I want #askthejudge and #jayz and @biggsburke if you wanna settle this holla at me…we use to hustle together…court is corny…let’s talk like men for the culture… I dare y’all to respond #doitfortheculture."

ORIGINAL STORY:

It looks like JAY-Z and Dame Dash have managed to resolve their predicament in their ongoing legal battle.

According to a report Billboard published Wednesday, March 16, Hov's legal team, who represents Roc-A-Fella Records, said that lawyers for both parties are currently in talks to potentially settle out of court. In his letter, JAY-Z's attorney Alex Spiro explained that they are "meeting and conferring to determine whether they can reach a settlement agreement that would resolve this case.” However, even if they don't reach an agreement, Spiro is confident his client will come out victorious.

Last summer, Roc-A-Fella's legal team formally sued Dash for attempting to sell his share of the copyright to JAY-Z's debut album Reasonable Doubt as an NFT. The lawsuit alleges that Dash had scheduled to put a minted NFT on the market to sell through an online auction. Spiro argued that Roc-A-Fella Records remains the sole owner of the album's rights. Although Dash does own one-third of the right, Spiro maintained that the entrepreneur does not have the right to sell any aspect of the album as an NFT or in any other form.

"Dash does not own Reasonable Doubt or the rights he is unlawfully seeking to sell," Spiro argued in the lawsuit. "And Dash’s status a minority shareholder in RAF, Inc., gives him no right to sell a company asset."

In his defense, Dash claimed that he only intended to sell his share of the ownership in Roc-A-Fella, not the rights to the album. Nonetheless, a judge issued a restraining order which prohibited Dash from making any sales that involve the album. In his latest update on the case, Spiro notes Dash acknowledged that he doesn't have the right to sell off any portion of the album during litigation.

Now that both parties are willing to debate terms of a settlement, there's hope that their legal battle will end soon. Spiro's letter requested for the settlement discussions to continue until April 1. If they can't come to an agreement, Spiro plans to file a motion to claim a full victory in the case and request a permanent injunction that will bar Dash from ever selling any portion of Roc-A-Fella's "most prized asset."