Coolio is making a transition from rapper to chef, and he plans on auctioning off his entire music catalog to fund the new career move.
The 50-year-old artist known for hits like "Gangsta's Paradise" and "Fantastic Voyage" has put up all 123 songs that he's recorded on The Royalty Exchange, a website dedicated to auctioning off, "Royalty streams including music, film, TV, books, solar energy, pharmaceutical, intellectual property, oil/gas and more."
The bidding for Coolio's catalog starts at $140K, and it's estimated that the final bidding price will go as high as $225K. He plans on investing the funds from this auction to, "Expand his cookbook series and online cooking show." Coolio already released a cookbook in 2009 called Cookin' With Coolio which became a bestseller.
The average royalties from Coolio's music catalog is estimated at $23K a year, which is a nice payday for simply laying in the cut. Bidding for Coolio's music begins on August 28 and ends August 29.
[via Rolling Stone]