But here we are in 2012, and said album has become a bit of an urban myth.
Apparently, Jay-Z plays the album (which apparently goes by the name Act II: The Patents of Nobility) constantly. Although as a business, man/business man, and Jay Elect's boss,word is he's concerned there are no viable singles.
The Patents of Nobility has also been rumoured to have made angels weep with joy, if you believe everything you read on the internet. But will us mere mortals get a listen? I'm not sure.
There have been a few promising signs over the last few days, though.
First, the artwork from the project saw the light of day. Now, an MP3 of 'Dear Moleskine' - a track that's been a part of Jay Elec's live routine for a while now - has mysteriously appeared on Hype Trak.
Might the much promised album be set to surface? Your guess is is good as mine. The fact that I've said apparently more than once in this post might give you an indication of how much anyone knows. But let's just take what we can get for now.
You can listen to 'Dear Moleskin' by Jay Electronica below: