Acclaimed hip-hop outfit the Roots have formed a new label, Okayplayer Records.

Billboard reports that the label, named after the Roots' website, is a joint venture with multimedia company Decon.

The label's first release will be a compilation album featuring the likes of the Roots, Skillz and Dilated Peoples and produced by the band's drummer, Ahmir '?uestlove' Thompson.

The compilation will also feature two unsigned acts with the Roots taking submissions at their website until 13 February.

The Roots are currently working on their new album, 'The Tipping Point', the follow-up to 2002's 'Phrenology'.