As Migos, one of Atlanta's hottest rap groups, prepare to drop their new mixtape, 'Rich N---- Timeline,' the trio grace the cover of The Fader magazine's December/January 2015 issue.

In the exclusive interview, rappers Quavo, Takeoff and Offset take writer Leon Neyfakh on an adventure of paintballing and touring while getting into the mindset of the group that is high on rap's radar. Readers will also learn that since the success of their runaway street hit 'Versace,' the group earns about $40,000 per show and they perform three to four nights a week.

Migos has also partnered with New York's 300 Entertainment, which is run by former Warner Music Group CEO Lyor Cohen and two of his longtime associates, Todd Moscowitz and Kevin Liles. So the 'Fight Night' team are gearing up for a prosperous year.

"Every 10 years it's like a new wave coming in, and that's what's happening now," says Kevin "Coach K" Lee, the group's longtime manager. "Not to knock nobody, but the Jeezys and the T.I.s and the Guccis -- they're getting to that age, man. These boys, they're on a new wave that's coming through. They're coming with a new sound, new cadences, new flows. They're the ones now."

Other highlights from the interview include:

Migos Signing With 300 Entertainment:

"We turned down every label. We turned down Def Jam, RCA, Atlantic. I wanted five million dollars, but didn’t none of them wanna come with five million. They’d come with one, two, two-point-five. But we already came in the game with that. When Migos came out, Migos had real Rolexes on. Migos had real Versace on. The ‘Versace’ video cost us $100,000, you feel what I’m saying? We already came in the game with money." -- Pierre “Pee” Thomas, co-founder, Quality Control Music, Migos' label

Lyor Cohen Speaking on Migos Becoming a Crossover Sensation with New Album:

“Quavo just called two days ago, and he said, ‘We want to leave Atlanta to finish up our album. Where should we go?’ I told him: Sweden. [It] has a culture of soul, R&B, funk and rap -- but also pop.” You get them in the room with 'a couple of those great producers' they have over there, and Migos 'could create something really global.' Never mind that just last year Migos were working out of their basement in Gwinnett; 300 thinks they should be playing arenas and recording songs with acts like James Blake and Imagine Dragons. “If we wanted an extremely limited, keep-it-real Atlanta group, we’d just keep them in Atlanta,” Cohen says. “But that’s not interesting to us. What’s interesting is to import the essence of Atlanta to the world."

Drake's Appearance on 'Versace':

"It was a gift and a curse. Sometimes I really wish he had never jumped on it -- it was gonna blow without him." -- Pierre Thomas

Lyor Cohen on the Problem with Social Media Metrics:

“When you have on Twitter these ‘likes’ or ‘thumbs up,’ the thumbs are equal to one another, and that’s not how the real world works,” Cohen says. “I have a bigger thumb than the person behind the deli counter probably does, when it comes to rap music.”

The Fader December/January 2015 issue, with Migos on the cover, will hit newsstands next week.