Jay-ZJay-Z is set to hit the stage in New York on Thursday (August 12), as part of inaugural World Basketball Festival — brought together by Converse, the Jordan Brand and Nike Basketball.

The event will take place at New York’s Radio City Music Hall, where Jay will put on a musical performance following a one-of-a-kind, on-court showcase featuring finalists for the 2010 USA Basketball World Championship Team.

“We’re excited to bring together the international prestige of Jay-Z and the USA Team on stage at famed Radio City Music Hall to open the first World Basketball Festival. This will be a historic night,” said Trevor Edwards, Nike VP Global Brand and Category Management. “We’re also honored to collaborate with JAY-Z on limited edition Air Force 1s that celebrate the countries participating in this inaugural event.”

Nike has distributed tickets for the Radio City Music Hall events to a number of New York area community groups and charitable organizations, as well as youth clubs and youth basketball leagues. Distribution to the general public has been driven through on-going promotions with radio station Hot 97 and through retailers Modell’s, Footlocker, Niketown and House of Hoops.

Additional ticket information can be found at Facebook.com/WBF.

If you’re not in New York or just can’t get tickets, don’t worry. The entire basketball and musical performance will stream live on Facebook.com/WBF beginning at 6:30 p.m. EDT until its conclusion.

Following the event at Radio City Music Hall, highlights will be available online at both NBA.com and USABasketball.com.

In addition to his performance at Radio City Music Hall, JAY-Z has joined forces with Nike to create an iconic collection of Air Force Ones — the All Black Everything collection inspired by the World Basketball Festival.

Nike has donated the shoes to the Shawn Carter Scholarship Foundation, who in turn have linked up with eBay on a charity auction where the five unique pairs will raise funds for its mission to provide financial assistance to promising individuals upon acceptance into any accredited institution of higher learning.

One hundred percent of the funds raised will support the Shawn Carter Scholarship Foundation. The charity auction begins on August the 12 at 9:00 a.m. EDT and ends on August 22, at 9:00 a.m. EDT. Bidders can visit Ebay.com/JayZNikeWBF to enter a bid.

Nike Hov

Only two pairs of each of the five designs will be created, one for the winning bidder and one for the man behind the design, Jay-Z.

After the tip-off event at Radio City Music Hall on August 12, the action moves uptown to New York City’s legendary basketball courts at Rucker Park in Harlem, Friday and Saturday, August 13 and 14.

The World Basketball Festival concludes Sunday (August 15) with an exhibition double-header featuring the United States taking on France (1 p.m. EDT) and China meeting Puerto Rico (3:30 p.m. EDT) at famed Madison Square Garden. Tickets are available through TicketMaster.com TheGarden.com.