JAY-Z’s entrepreneurial career is beginning to rival his hip hop legacy. This week, the “angel investor in things” invested in Bitski, helping the NFT marketplace raise $19 million in its Series A funding round. TMZ is also reporting that HOV’s S. Carter Enterprises has filed to trademark 2/J for “entertainment services in the nature of creation, development, and production.” Many believe the news means JAY could be developing his own production company to delve into more TV series and movies.
The 51-year-old business man already served as the executive producer for the six-part documentary Time: The Kalief Browder Story and 2018’s Rest in Power: The Trayvon Martin Story and Meek Mill’s Free Meek docuseries. And in 2020, he helped produce the sci-fi drama Noughts + Crosses and the documentary Atlanta’s Missing and Murdered: The Lost Children.
All of the aforementioned productions are also credited to Roc Nation’s TV/film division, which makes this endeavor somewhat peculiar. If JAY already has a TV/film division within Roc Nation, why would he need a separate production company?
Roc Nation expanded its management services in 2018 to include a television branch. It was initially ran by Weinstein Company alum Patrick Reardon. Last month, CAA and ICM agent Lori York became executive vice president of TV and film at Roc Nation. Filing to trademark 2/J may not be for a film company. Instead, HOV could be readying a separate entity to launch NFTs for himself and Roc Nation artists.
His investment in Bitski clearly shows JAY is interested in the non-fungible token trend. In February, JAY and Square founder Jack Dorsey announced their plans to establish a bitcoin development fund. They invested 500 bitcoin into the project, which at the time was worth roughly $23 million. Since the trademark was filed for “entertainment services in the nature of creation, development, and production,” NFTs would definitely fit that classification.