Self-made entrepreneur and eternal hustler Master P is one of rap's longest-burning success stories. Throughout the '90s he was credited with bringing the sound of New Orleans street rap to the mainstream through unrelenting promotion and exposure for the artists on his label No Limit Records, but P continued grinding long after the initial impact of his label had faded. In addition to innumerable business ventures, entertainment projects, and work in film and television, Master P steadily released new music well into the 2000s and 2010s, and No Limit Chronicles: The Lost Tape arrives in conjunction with the BET docuseries No Limit Chronicles, which tells the story of Master P's rise from rags to riches in the mid-'90s. The 18-track mixtape embodies the spirit of those early No Limit days while simultaneously moving forward. There's a tinge of '90s nostalgia to the production with jumpy hi-hats, airy synths, and the pained R&B vocals that flow through the background of "Need to Know," recalling touchstones of the early No Limit Records sound. P's flows haven't evolved too much since 1997, either, but he does try some new delivery approaches on hard-hitting standout tracks like "Where Was You" and the Peewee Longway collaboration "Cook Up." The album follows a template that's familiar to longtime followers of Master P and No Limit. There are several strong singles that offer just enough pop appeal to temper P's grumbly street rhymes intermixed with far edgier rap songs ("Make It Out," "Put That on My Life") and moments of somber odes to grief or melancholy ("Say Her Name," "Still Remember.") No Limit Chronicles: The Lost Tape is kept from being pure throwback by Master P's updated social consciousness and willingness to try things outside of his established strengths. Multiple lyrics directly address racial injustice, police violence, and the wave of protests against both that flared in 2020. Even 30 years into rapping, Master P can still sound fresh and energetic, spitting out bars on "Real Ones" that sound frenzied and exciting. The wealth of featured artists that show up on almost every track make the project feel a little bit more collaborative than a strictly Master P-led affair, but that, too, is part of the No Limit template much of the album evokes. No Limit Chronicles: The Lost Tape doesn't break much new ground, but it strikes an impressive balance between reminding us what made Master P great in the first place and offering new evidence that he's still got it.