Russell Simmons Launches NFT “Masterminds of Hip Hop” Collection to Help Artists Make Money
The artists at the forefront of the hip-hop movement, while it was still considered a “fad”, did not take advantage of the spoils of the multibillion-dollar industry that today’s artists capitalize on.
Well, one of the earliest known hip-hop leaders is hoping to change that for hip-hop pioneers.
The founder of legendary hip-hop label Def Jam Recordings, Russell Simmons, has announced a collaboration with TOKAU that will exclusively launch an NFT collection that lives up to its name âMasterminds of Hip Hopâ. This NFT was built alongside legendary musicians who were hip-hop’s early rappers. The exclusive Russell Simmons -Tokau joint venture aims to bring proper credit and compensation to the original artists who helped create the art form that has grown into the multi-billion dollar industry it is today.
Me and a group of original Hip Hop Founding Fathers collaborate with #TOKAU launch exclusively a #NFT collection aptly named “Masterminds of Hip Hop”, in order to give credit and money to these pioneers. Stay tuned and follow @TOKAU_JP @bakery_swap pic.twitter.com/583CS8sXw0
– Russell Simmons (@UncleRUSH) June 23, 2021
âI often think of the early days of pre-recorded hip-hop when it was just a performance art. There were rappers and DJs who pioneered the space and made it so popular that recording of rap artists was prominent. None of them have received the accolades that I think they deserve and this is my chance to use a new vehicle to revisit and reward these amazing artists while they are still alive, âsaid Russell Simmons in a written statement.
âMasterminds of Hip Hop aims to give credit to the creators of the cultural movement. “
Simmons will work with Tokau to bring together over 15 of the original hip-hop pioneers who founded hip-hop culture as part of the collaboration. The NFT âMasterminds of Hip Hopâ collection will be a collection series divided into two phases: the pre-recorded and the first recording. The plan is to release no less than 40 exclusive NFTs. Each NFT will be a special collector’s item co-designed and co-hosted by Russell simmons, the featured artist and team from Tokau. They will capture a piece of hip-hop history based on behind-the-scenes stories told by the artist himself.
Note: NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin.
“We are delighted to partner with Russell to create this one of a kind NFT that will recognize the creators of hip-hop,” said Dennis jia (also known as Dennis tok the fearless leader and original idea of ââthe Tokau family) Co-CEO of Tokau. “Our goal is to give credit to the original artists.”
Tokau is the world’s first platform for celebrities and influencers to interact with their fans using NFT blockchain technology.
Last month, Tokau announced the first group of artists involved in the collection, DJ Hollywood, Grandmaster Caz, MC Lyte and Busy Bee.