The collection is a collaboration with Tokau
Def Jam Records founder Russell Simmons has partnered with Tokau to exclusively launch a NFT collection aptly named “Masterminds of Hip Hop.” The exclusive joint venture aims to give credit and compensation back to the original musicians that helped create the multi-billion dollar industry it is today.
“We are super excited to partner with Russell to create this one of a kind NFT which will recognize the creators of hip hop,” says Dennis Jia (also known as Dennis Tok the fearless leader and brainchild of the Tokau family) co-CEO of Tokau. “Our goal is to give credit back to the original artists.”
“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 eminent. 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,” says Simmons. “Masterminds of Hip Hop aims to give credit back to the creators of the cultural movement.”
As part of the venture, Simmons will work alongside with Tokau to sign more than 15 of the original hip hop pioneers that founded its culture. “Masterminds of Hip Hop” will be a collector’s series broken into two phases – Pre-Recorded and Early Recording, releasing no less than 40 exclusive NFTs. Each NFT will be a special collectible that is co-designed and co-curated by Simmons, the artist and the Tokau team, and will capture a piece of rap history that is behind the scenes with stories told by the artist themselves. Together, the entire collection showcases a wholistic story of the origins and development of the genre that became the most powerful part of global musical culture today.
“Artists now have a powerful way to distribute their art using cryptocurrency and blockchain technology. This reflects a new phase of how fintech and blockchain technology merges with art for the benefit of all,” states Miranda Tan, spokesperson for Tokau.
Tokau is the world’s leading platform that allows celebrities and influencers to interact with their fans using blockchain NFT technology. Tokau helps celebrities and influencers to monetize their IP through a NFT. Tokau builds communication channels between celebrities and users. In addition, many celebrities and athletes’ IPs can engage and interact with their fans on the Tokau platform.
Tokau has already signed exclusives with dozens of the top global celebrities and influencers with plans to sign more in the near future. Additionally, Tokau plans to expand IP resources to athletes, artists, and famous stars around the world.
The NFT market was valued at $2 billion in April 2021, a 2100% increase since December 2020 with more growth expected over the next year. Other artists who’ve released NFTs include Maroon 5, Jeezy, XXXTentacion, Eminem, Cypress Hill, Snoop Dogg, and others. Amy Winehouse, John Lennon and Jerry Garcia are among those with posthumous NFT collections.