Prince is said to have several unreleased recordings locked away in an archive called the Vault.
Over a week since the Purple One's sudden death, the Vault has reportedly been drilled open by Bremer Bank, the St. Cloud, Minnesota, institution Prince trusted with his finances over the years. The late musician was the only one with the code, reports ABC News.
It has been said that the vault is a giant room with shelves sealed with a large spinning wheel.
Prince was found unresponsive in an elevator on April 21 after sheriff's deputies received a call for medical help from his Paisley Park Studios home outside Minneapolis. He was 57.
"I know from my past experience that very often some of that material needs significant editing," entertainment attorney Donald David, who represented the estates of Tupac Shakur and TLC's Lisa "Left Eye" Lopez after their deaths, told PEOPLE.
"Some of it can be used, some of it can't be used. But you're going to see unreleased Prince albums – if it is properly managed – for the next two decades." Adding, "As long as the estate is well-managed – and they don't go for a quick hit by doing something like selling his publishing rights – it will produce income into [what would have been] his great-grandchildren's years without any problems."
Prince's sister Tyka Nelson previously revealed that her famous brother did not have a will in place to declare the distribution of his assets.