Jay Z is convinced Nick Jonas is destined to be the next Justin Timberlake in the world of music.

Fresh off of witnessing and hearing the "Levels" singer perform at his "Made In America" fest earlier this month, the Roc Nation founder is totally sold on the idea of Jonas being the next mega-hit boy band member turned solo artist.

"Jay Z is always a forward thinking businessman and always wants to be on the cutting edge of music, business and anything else that will make him the entrepreneur that he is -- and his next project is Nick Jonas," a source told Hollywood Life. "He wants to record with him, and he wants Beyoncé to record with him. He sees Nick as the next Justin Timberlake."

Over the years, Jay and Timberlake have developed a close working relationship that includes several tours together and collaborating on such smash hits as "Suit & Tie" and "Holy Grail."

Given the soulful style he shares with the former NSYNC band member, Jay is convinced his talents would perfectly align for collaboration with either him or Beyoncé.

Recently, Jay and Nick were spied sitting side by side at his annual Made In America Fest, marveling at Beyoncé belting out hit after hit.

A day before, Jay had saluted his lady for her 34th birthday with a playlist that included the song "Yellow" by Coldplay.

He later wrote of the reason he chose the song, "This song reminds me of you and I on vacation. 'Look at the stars, look how they shine for you.' So many legendary nights. It represents vulnerability; it's us in our own world, away from work and totally lost in love. 'For you, I bleed myself dry.'"