TOKYO AND NEW YORK, June 25, 2021 /PRNewswire/ — Russell Simmons, the Founder of Def Jam Records (now the largest music label under Universal Music), collaborates with TOKAU to exclusively launch a NFT collection aptly named “Masterminds of Hip Hop” built alongside with legendary musicians that were the original rappers of Hip Hop. The exclusive Russell Simmons Tokau joint venture aims to give credit and compensation back to the original musicians that help 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 Russell Simmons. “Masterminds of Hip Hop aims to give credit back to the creators of the cultural movement.”
As part of the venture, Russell Simmons will work alongside with Tokau to sign more than 15 of the original pioneers in Hip Hop that founded Hip Hop culture. “Masterminds of Hip Hop” will be a collector’s series broken into 2 phases – Pre-Recorded; Early Recording, releasing no less than 40 exclusive NFTs. Each NFT will be a special collectible that is co-designed and co-curated by Russell Simmons, the artist and the Tokau team and will capture a piece of Hip Hop 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 Hip Hop 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,” say 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. In the next 12 months, it is expected to grow exponentially. Tokau is planning to develop their NFT business with BakerySwap, Binance NFT marketplace and others and will release its first main version in September 2021.