Last night (March 1), Lil Wayne broadcasted a tour bus studio session on the app LiVideo. During the night of live streaming, the New Orleans rapper revealed that he and Chance The Rapper have some music in the works.

"I'm on the bus right now on the studio bus," Lil Wayne said. "I'm working on a feature song for my homeboy Chance The Rapper. Shout out Chance The Rapper."

Obviously this is not a lot of detail, but one can guess that Lil Wayne is laying down a verse for a guest appearance on a Chance The Rapper project. Perhaps this song will end up on Chance's highly anticipated third mixtape. This collaboration will be the first time the two have worked with each other since 2013 when Chance appeared on Lil Wayne's "You Song" from the Dedication 5 mixtape.

Lil Wayne has a lot more on his plate this week as he is about to release a new album with 2 Chainz. Earlier today (March 2), Kanye West announced that the southern duo's ColleGrove LP would be released on Friday (March 4). Kanye also shared the album's cover art, which was likely created by his creative agency DONDA.

As for Chance The Rapper, the Chicago MC has been busy as well. Chance was recently announced as being part of the Hamilton mixtape, which is scheduled to drop in the fall. He's also been seen in the studio with Akon, T-Pain and Detail as well as contributing to Macklemore and Ryan Lewis' new album This Unruly Mess I've Made.

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