Rapper One is preparing to debut under YG Entertainment.

SEE ALSO: "He looks like a prince straight out of Game of Thrones," Stray Kids' Felix steals hearts with his regal look at the Met Gala

On May 12, YG Entertainment addressed reports about the rapper's debut, saying, "It's true One is preparing to debut, but we're currently negotiating when his new album will be released." According to an insider, One has already wrapped up filming his debut music video, but it looks like nothing has been confirmed.

Viewers of Mnet's 'Show Me the Money 5' may remember One as a talented competitor on the show.

Stay tuned for updates on One's debut.