Jay-Z Files Trademark For What Could Be A New Production Company, Invests In New NFT Marketplace
Photo Credit: Nicholas Hunt

Jay-Z Files Trademark For What Could Be A New Production Company, Invests In New NFT Marketplace

The reign of Jay-Z continues.

In two separate announcements, it was revealed that Hova has made not one, but two, major business investments that are well putting him onto a path of business superstardom.

According to Revolt TV, Beyoncé’s husband has revealed that he invested in NFT (non-fungible token) marketplace Bitski and that his initial investment — and the announcement surrounding it — helped the company raise $19 million in its Series A funding round.

The outlet suggests that this investment is, in part, tied to the rapper-turned-businessman’s business deals with Twitter head honcho Jack Dorsey. Their Bitcoin development fund — in which the pair invested 500 Bitcoin each — and the trademark was filed for “entertainment services in the nature of creation, development, and production.”

As AfroTech previously explained, NFTs are a form of digital authentication for things like artwork. While some experts believe that NFTs are the wave of the future, others are not so sure.

In other Jay-Z news, he’s just reportedly filed a trademark for what could be a new production company, tentatively called 2/J.

While it’s unclear what this potential production company will produce, or what its outreach will entail, he’s already served as an executive producer of several streaming productions in the recent past.

Some of his past productions include “Time: The Kalief Browder Story,” “Rest in Power: The Trayvon Martin Story,” Meek Mill’s “Free Meek” docuseries, “Noughts + Crosses,” and “Atlanta’s Missing and Murdered: The Lost Children.”

These productions are all part and parcel of Roc Nation’s new film and television division. And in a separate report, Revolt TV speculated that this new production company will focus specifically on NFTs and other new-type productions.

Why Hova needs a new production company when Roc Nation has an existing film and television division remains unclear. It will be interesting to see who else will be joining the production company’s advisory board.