According to Forbes, Nicki Minaj and Lil Wayne has just inked multi-million dollar deals with Pepsi during the 2012 SXSW last week. YMCMB will be apart of a huge maketing campaign for a new Pepsi beverage realeasing in the next few months. Nicki Minaj became the first female to grace FORBES’ Hip-Hop Cash Kings last year, pulling in $6.5 million.

According to Derek Jackson, the Glu agency chief who brokered the agreement, Minaj will become the face of a new Pepsi beverage nearing its debut. He said the pact, which includes a commercial filmed in South America last month (pixely footage has already leaked on YouTube), is a multimillion-dollar deal.

“You’ll see the commercial probably in the next two months,” Jackson told me before Lil Wayne’s performance at South By Southwest. “That’ll be a segue into a new beverage Pepsi has, called ‘Pop,’ and she’ll be the face of the brand … it’s going to be explosive.”

The pact was one of two major partnerships between Pepsi and Cash Money / Young Money artists garnering significant attention in Austin. Lil Wayne debuted his DEWeezy campaign with Pepsi’s Mountain Dew, also negotiated by Jackson, at his South By Southwest showcase.

Good look for YMCMB with the exception of Drake, who remains on his lucrative deal with Coca-Cola’s Sprite.

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