It’s been almost five years to the day that Watch the Throne was released. If you remember, the anticipation for the album was unprecedented as two of hip-hop’s biggest superstars came together to give fans something very special.

Many have wondered whether there’ll ever be a WTT sequel, though it seems unlikely. However something similar could be in the works, but instead of it featuring Kanye West and Jay Z, the project would headline ‘Ye and Drake.

The pair took to the stage last night (August 1) at OVO Fest as Kanye unearthed some major news regarding a “new album” between him and the Toronto native.

"Toronto, I got one question for you," West yelled out at center stage as the crowd chanted his name. "Is y'all ready for this album?" He then cut the DJ off and continued, "Now, I'm not talking about Pablo. I wasn't talking about Views. I wanna ask y'all right now, y'all ready for THIS album?" He then pointed at Drake, who walked out onstage shortly before Yeezy performed "Father Stretch My Hands, Pt. 1."

This is the first time either artist has actually said they’re working on an album together. And while nothing has been confirmed yet by either camp, both artists have voiced the desire to put together a collaborative project in the past. Back in February, Kanye tweeted that he, Drake and Future all have work soon to surface and told The Breakfast Club the February prior that he and Drake wanted to put out a joint album when discussing how “Wolves” came together. "The 'Wolves' song came from a conversation that me and Drake had, when we was gonna do an album together and the album was called Wolves," he explained.

In April, around the time of his Views release, Drake sat down with Zane Lowe and discussed, among other things, his relationship with Ye. He told him that Kanye was a role model to him and confirmed that the two often work together in Los Angeles. "I love [Kanye]. He's a really good guy. I grew up with him as a role model. Always given him credit, that's why we're here right now. It's amazing to be his friend," Drake explained to the Beats 1 host.

"We'll just sit and collaborate,” he continued. “We have a few things that we’ve worked on. It’s all about finding a place for it. We can link each other and discuss anything. Feeling a way on this or just leisure talk, we have a great relationship. I hope we get more music out. We were supposed to do a mixtape together an album together... You never know, he'll call me tonight and say, 'I'm putting these two songs out tonight.'"

Regardless of what actually happens, just the possibility of a Drake and Kanye West collab album has us geeked. We’ll have to wait and see if more details emerge in the coming months.

Check out some fan video of what went down last night at OVO Fest below.