Jay-Z hosted a private listening session last night for his collaborative album, Watch The Throne, with Kanye and Hov debuted tracks from the LP and held an Q&A.

Jay said that the version of the album he played was the “third iteration of the project” and that previous records were scrapped for “being too big and calculating.”

Now on to some album details:

* Watch the Throne features only two guest appearances, Beyonce on “Lift Off” which Jay says he wants to shoot a video for, and Frank Ocean, who appears on “No Church” and another track in which the title wasn’t revealed. Another track on the album is “Living So Italian” which samples “Ave Maria,” while the song titled “Otis Redding” samples Blade of Glory while Kanye and Jay rhyme back and forth over the beat.  “Black on Black” is another track from the album where Ye and Hov focus on intra-racial violence.

* Jay also said “H.A.M.” wouldn’t make the final cut of the album.

“It’s just so big and so much, you don’t want that sh– screaming in your house. If we don’t make records that we like and represent the culture, we would be over.”

Billboard also reported on twitter:

“Jay-z said he wanted to make the album for the music, not for sales/hits, and that he’s turned off hearing blatantly commercial/formulaic songs.”

A tentative release date for Watch The Throne is August 2nd.

Head over to Billboard for a full report on the Listening session.