*After his run with the Food Network series “Celebrity Chefs” and the release of his 2009 bestselling cookbook “Cookin’ With Coolio,” rapper Coolio has decided to chase his new dream of being a chef and author.
Coolio will be funding his new ventures by auctioning off the performance royalties to all of his songs.
A PR Newswire release says that The Royalty Exchange will be auctioning off Coolio’s entire catalog of 123 songs, including the No. 1 hit “Gangsta’s Paradise.” The release notes that “the catalog is being sold directly from the artist and bidding will start at $140,000.”
The Exchange reported on their website that the rapper’s average yearly royalties for his catalog are $23,227.
“The Coolio song catalog auction is an exciting and rare opportunity for anyone looking for an alternative investment in music publishing and songwriter royalties,” said Sean Peace, The Royalty Exchange’s CEO. “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.”
Noted the release: “Coolio plans to invest the funds from the song catalog sale to expand his cookbook series and his online cooking show of the same name.”