The songs "Odd Toddlers" and "Slow It Down" were later released on Tyler, the Creator's debut album Bastard. The "Odd Toddlers" instrumental was previously used on Casey Veggies's mixtape Customized Greatly under the title "Odd".
Odd Future's manager Kelly Clancy announced via Twitter on January 17, 2012 that the second volume to the predecessor tape would be released March 20, 2012. The album was named The Odd Future Tape Vol. 2 and served as the group's official debut studio album.
Tom Breihan, from Pitchfork, described the mixtape, "the tape works as a fascinating glimpse of a rap group figuring out its identity, but even with a handful of strong Tyler moments, it's not really anything you need in your iTunes". He also says of Tyler, the Creator's input to the album, "A couple of the tracks here later showed up on Tyler's Bastard album, and he's so far beyond everyone else here that it's ridiculous".