JAY-Z is making moves in the collectibles world.
Hov’s Roc Nation imprint along with Fanatics founder Michael Rubin, Miami Heat forward Andre Iguodala, current Philadelphia 76ers President of Basketball Operations Daryl Morey are investing in the Certified Collectables Group (CCG) courtesy of a transaction with Blackstone to acquire a majority stake in the company.
According to Business Insider, the company revealed their valuation following the competion of the transaction would be more than $500 million.
Hov’s recent dealings in tech and collectibles have only inflated his net worth. In March, he sold his share of Ace of Spades champange line to LVMH for $300 million and in May, the mogul closed a sale of TIDAL to Square CEO Jack Dorsey for $302 million.
CCG offers authentication services for various collectibles items including comic books, banknotes, magazines, concert posters, stamps, trading cards, sports cards and estate items. CCG, according to its estimates, has certified more than 62 million of these collectibles. At market value, the items are worth nearly $50 billion.
JAY-Z Drops ‘Reasonable Doubt’ 25th Anniversary NFT After Sonning Damon Dash In Court
The news of Roc Nation’s latest acquisition comes less than a week after Hov himself entered the non-fungible token space with a sale of his 1996 debut album Reasonable Doubt. On June 25, Hov commissioned “multidisciplinary artist” Derrick Adams to create a NFT around the album as Hov celebrated its 25th anniversary, days after he blocked ex-Roc-A-Fella business partner Dame Dash from doing the same.
The digital piece illustrates Hov in the same tuxedo outfit from the album insert, complete with billows of cigar smoke for added effect.
nfts and blackstone = scammers just know they control whether it goes up or down pump n dump n no regulations on crypto its like 100 people who own more than half the coins, they short when they please they pump when they please
Capitalism, love it
Thank goodness she was able to turn her life around, just as he was after being shot. No body knows what she was facing but her and the alphabet boys, she’s not the first one and won’t be the last.
What?