Jay-Z is preparing for an August 12 performance for Nike, which will have Hova on stage at New York’s Radio City Music Hall. This performance, part of the World Basketball Festival, will follow a showcase with finalists for the 2010 USA Basketball World Championship Team. The inaugural World Basketball Festival will be brought together by Converse, Jordan Brand and Nike. As one might expect, Jay will also work with Nike on his own All Black Everything collection of limited edition Air Force 1’s, which will gain inspiration from the World Basketball Festival.

“We’re excited to bring together the international prestige of Jay-Z and the USA Team on stage at famed Radio City Music Hall to open the first World Basketball Festival. This will be a historic night,” Trevor Edwards, Nike VP Global Brand and Category Management noted in a press release. “We’re also honored to collaborate with Jay-Z on limited edition Air Force 1’s that celebrate the countries participating in this inaugural event.”

Tickets for this event have been given to community groups and charitable organizations. Others can purchase tickets through New York’s Hot 97, Footlocker and more. More ticket information can be found on the World Basketball Festival Facebook page, where the entire event will be streaming live. Highlights of the event will be available on NBA’s official site, as well as USA Basketball’s official page.

For sneaker heads, news of the All Black Everything collection has been well received. Nike donated the shoes to the Shawn Carter Scholarship Foundation and the Foundation partnered with eBay for a charity auction. The collection will feature five uniquely designed pairs of new Airs (only two of each will be created) and one hundred percent of the funds raised will go towards the cause. The charity auction will start on August 12, when fans can begin their bidding.

Basketball fans can catch the US in an exhibition game against France on August 15 at Madison Square Garden. This exhibition game is only the start for the USA team as they prepare for the 2010 FIBA World Basketball Championship in Turkey, which will start on August 28.