And if rap was a game, I'd be MVP
Most Valuable Poet on the M-I-C
Or if rap was a school, I'd be the principal

from Big Daddy Kane (Ft. Biz Markie) – Just Rhymin' with Biz Lyrics 22 on Rap Genius

Meaning

The MVP in sports games is the most valuable player, the best. But Kane also uses the letters of MVP to say “Most Valuable Poet” as well. If rap was a school, (which technically it is with old school & new school) then Kane would be the principal, the boss, man in charge. These lines are actually used later on by Big L in “MVP” as well as “principal of the new school”

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And if rap was a game, I'd be MVP Most Valuable Poet on the M-I-C Or if rap was a school, I'd be the principal

And if rap was a game, I'd be MVP
Most Valuable Poet on the M-I-C
Or if rap was a school, I'd be the principal