Russell Simmons Launches NFT Collection ‘Masterminds of Hip-Hop’ to Help Pioneers Capitalize On Their Contributions

The artists at the forefront of the hip-hop movement, when it was still considered a “fad,” haven’t benefitted from the spoils of the multibillion-dollar industry that today’s artists are capitalizing from.

Well, one of the first known hip-hop executives hopes to change that for the pioneers of hip-hop.

The founder of the legendary hip-hop label Def Jam Recordings, Russell Simmons, has announced a collaboration with Tokau that will exclusively launch an NFT collection that has been aptly named “Masterminds of Hip-Hop.” This NFT was built alongside legendary musicians that were the original rappers of hip-hop. The exclusive Russell Simmons-Tokau joint venture is aiming to give the proper credit and compensation back to the original artists who have helped craft the art form that has become the multibillion-dollar industry it is today.

Me and a bunch of original founding fathers of Hip Hop are collaborating with #TOKAU to exclusively launch an #NFT collection aptly named “Masterminds of Hip Hop”, for the purposes of giving credit and money to the these pioneers. Stay tune and follow @TOKAU_JP @bakery_swap pic.twitter.com/583CS8sXw0

— Russell Simmons (@UncleRUSH) June 23, 2021

“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 in a written statement.

“Masterminds of Hip-Hop aims to give credit back to the creators of the cultural movement.”

Simmons will work with Tokau to bring more than 15 of the original hip-hop pioneers who founded hip-hop culture as part of the collaboration. The “Masterminds of Hip Hop” NFT collection will be a collector’s series broken into two phases: the Pre-Recorded and the Early Recording. The plan is to release no fewer than 40 exclusive NFTs. Each NFT will be a special collectible that is co-designed and co-curated by Russell Simmons, the featured artist, and the Tokau team. They will capture a piece of hip-hop history based on behind-the-scenes stories told by the artist themselves.

Note: NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin.

“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.”

Tokau is the world’s leading platform that allows celebrities and influencers the opportunity to interact with their fans using blockchain NFT technology.

Last month, Tokau announced the first group of artists involved in the collection, DJ Hollywood, Grandmaster Caz, MC Lyte, and Busy Bee.