In reply to DimeDozen.

Yes it is. It is a compilation album complete with unreleased songs thus it is certainly still an 'album' in the traditional sense. Furthermore, EP's and Mixtapes (consisting of seven or more songs) are also considered album's and are eligible for album nominations, in whatever category depending on the albums genre, at the GRAMMY's.

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P.S: Lady Gaga's "The Fame Monster" was an EP; an extended play of songs recorded for "The Fame", and it was nominated for 'AOTY'.