Lamar said he and Cole don't yet have a name for the project, but they have found the vibe and feel for it and plan to release it in album form, not as a mixtape. Another interesting tidbit: The project will feature Cole's production and Lamar's rhymes with Cole only showcasing his lyrical prowess on a few of the tracks.

"Everything's going to be 90 percent produced by him, me busting over them, and he should be featured on a few too," Lamar said. "I know he wanted to do most of the tracks. We got some records, man."