Hov's a living legend and I'll tell you why
Everybody wanna be Hov and Hov's still alive
Referencing the infatuation with rappers such as 2Pac and The Notorious B.I.G. once they have died. Jay-Z is still alive and feels that he already receives that amount of attention
Gives a new meaning to the banality of “Living Legend”
This could also be referring to a Hov comeback. Hova released The Black Album before this album came out and The Black Album was considered to be his last one. Here he says he is still alive which means physically and musically alive. He maybe knew already he could not just stop rapping and was working on new shit already.
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