LOS ANGELES -- Nelly the rapper may be lying low, but Nelly the businessman is flapping his wings at full pace.

"I'm always in the lab, but I'm playing CEO right now," the Derrty Entertainment boss said at the Nickelodeon Kids' Choice Awards (see [article id="1527638"]"Will Smith Issues A Warning, Timberlake Thanks His Butt At Kids' Choice Awards"[/article]). "I have a project comin' out of my label called Kinfolk, which is Ali from the St. Lunatics and Big Gipp from Goodie Mob. They did a collabo album together, and we're real excited."

Ali and Gipp just shot the video for the first single, "Go Ahead," and are planning a spring release for the album. Nelly, Big Boi, Young Buck, Three 6 Mafia, Jackie-O and Murphy Lee are among the guests.

Lee, meanwhile, is finishing the follow-up to 2003's Murphy's Law under Nelly's guidance. "We also have a guy by the name of Avery Storm comin' out, who I think is gonna blow everybody away," Nelly said, referring to Derrty Entertainment's first R&B singer.

Outside of his record company, Nelly is looking to follow up his role in last year's "The Longest Yard" soon (see "Nelly's Hollywood Offensive").

"I'm workin' on a few things," the rapper said, without giving specifics. "Hopefully everything goes as well as planned, but I'm really into the action. I'm really into the sports movies as well. I don't think I'm ready to cry on set yet. So you know, I'm tryin' to stay away from the sentimental things and stick to what works for me."

Nelly's latest venture outside of music is his new shoe, Rbk's the Derrty One, which recently hit stores.

"I come from a real athletic background, so I try to merge the athletic background with the entertainment background," he said of the sneaker. "I think this is the shoe to do it. I feel real fortunate that Rbk gave me the chance to design my own shoe. I'm a real sneaker freak, so this is like a dream for me."

Last fall, Nelly announced plans to document his life for A. Smith & Co., the television production company behind "The Swan" and "Hell's Kitchen" (see [article id="1510108"]"Nelly Signs Deal For His Own Reality Show"[/article]), but on Saturday he said those plans are now off.