Nas To Launch "Ill Will"

Even with his "Nastradamus" album still clinging to the charts, Nas is already working on his next project.

The New York rapper is preparing to launch his own record label, Ill Will Records, with a compilation highlighting some of Queens, New York's finest. Mobb Deep, Capone N' Noreaga, and Nas himself represent the New York borough on "Q.B.'s Finest," which is tentatively slated to hit stores this summer.

As for his day job, Nas is still pushing "Nastradamus," which has sold more than 780,000 copies since its release nine weeks ago. The rapper recently released a new single, "You Owe Me," from the album, which sees the rapper share studio time with Ginuwine.

"'You Owe Me' is more of a dance joint," Nas told MTV News of the track. "I don't really make dance records, but I definitely wanted a part of the album that you could just move to."

For much more on Nas, be sure to check out the MTV News Online feature: "Nas:

Nastradamus".