Legendary ’90s rapper Coolio has announced that he will be selling off the rights to 123 of his own compositions in an effort to fund his ridiculously successful culinary adventures, which will include a series of cookbooks in the future.
Ultimate Coolio fans can now get their hands on the ultimate memorabilia – a legally binding contract stating that they are the sole owner of the composition. His full back catalogue, including anthems such as Gangsta’s Paradise and, well…122 other songs…will officially be put to market.
The auction will be conducted by The Royalty Exchange, who have commented that the starting bid is placed at $140,000. So clearly this cookbook will be written on pages of solid gold. Sean Peace, CEO of The Royalty Exchange said the following of the auction announcement:
“The Coolio song catalog auction is an exciting and rare opportunity for anyone looking for an alternative investment in music publishing and songwriter royalties. We are thrilled to be able to offer royalties attached to such an iconic artist, and to assist interested parties in the research, registration and bidding process.”
So by the sounds of things, you will actually be pocketing the passive income the tracks made should they be publicly communicated, rendered and or synchronised to any moving image.
Don’t let the haircut fool you, either – Coolio is a clued-in dude. After appearing on the hit TV series Celebrity Chef, the rapper released 2009’s Cookin’ with Coolio which hit the New York Times bestseller list.
Once he’s cashed up from the auction, Coolio will be releasing even more books and, on top of that, he will be cranking up his online cooking program, also called Cookin’ With Coolio. Names clearly aren’t his thing.
The auction will be carried out next Wednesday, 28th August.
(Via The Wrap)
