Rocky said that he sought a 'bigger platform' for him and his collective with the deal. It was worth $3 million, with $1.7 million for his solo work and $1.3 million to fund his company ASAP Worldwide.

After a bidding war among labels, Rocky signed a record deal with Polo Grounds and RCA on October 14, a week after RCA's parent label, Sony Music, absorbed Jive, J and Arista into RCA itself. The song also earned him respect in the New York scene, of which he later said, 'It bring a tear to my eye to see native New York people give me my props because New York is stubborn and arrogant'.

In August 2011, Rocky following a music video for the song 'Peso', which first appeared on internet blogs and eventually received radio airplay on New York City's Hot 97. Rocky and Polo Grounds president Bryan Leach, also a Harlem native, subsequently spent time talking about music and lifestyles. However, he held off from any deal with a label, instead wanting to explore other pursuits. He was courted by several labels, including the RCA-distributed Polo Grounds Music. When he released a music video for his song 'Purple Swag', it garnered Internet buzz and attention from record labels, despite negative feedback from his native hip hop scene in New York. In May 2011, Rocky quit selling drugs and decided to focus on his rap career. It received generally positive reviews from critics, and charted at number one on the US Billboard 200. ASAP national tour with rappers Schoolboy Q and Danny Brown. The album was supported with four singles-' Goldie', ' Fuckin' Problems', ' Wild for the Night', and ' Fashion Killa'-and Rocky's Long.

The album's production was handled by Rocky himself (under the pseudonym Lord Flacko), Hector Delgado, Hit-Boy, Clams Casino, Jim Jonsin, T-Minus, Danger Mouse, 40, Skrillex, and Emile Haynie, among other high-profile producers. The album features guest appearances from Kendrick Lamar, Schoolboy Q, 2 Chainz, Drake, Big K.R.I.T., Santigold, Overdoz, Yelawolf, Florence Welch, Danny Brown, Action Bronson, Joey Badass, Gunplay, and ASAP Ferg. It was released on January 15, 2013, by ASAP Worldwide, Polo Grounds Music, and RCA Records. ASAP (stylized as $AP) is the debut studio album by American rapper ASAP Rocky.

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