2020 is going to be the year of Chance The Rapper. The Chicago native is set to host the Nickelodeon Kids’ Choice Awards

“It’s a huge honor and a big deal,” he tells PEOPLE exclusively. “I’d watch Nickelodeon — it was channel 54 here — it was all I watched, and I watched crazy, super amazing people host my whole life. To be able to be in that world is like a fantasy.”

Chance isn’t the only one excited about the opportunity. His daughters are just as excited to tune in to see their father on the big day.

“My oldest daughter is excited whenever I’m on TV, and my youngest daughter is excited whenever anything happens, so there will be some smiles in the house for sure,” he says.

Chance will also be the new host of the reboot of “Punk’d.”

The rapper announced the news via Instagram with an official teaser for the new season of the show, which will exclusively air on Quibi. He captioned the post, “I got a new job. I’m hosting PUNK’D on @quibi NO ONE IS SAFE.” In the video, you see Chance playing a prank on Megan Thee Stallion. The prank involves a gorilla and you can clearly see that Megan is scared out of her mind.

In a press release, Chance said “‘Punk’d’ is one of MTV’s most iconic franchises. I grew up watching this show and it’s surreal to be in the driver’s seat this time around on Quibi.”

Chance is also set to perform at this weekend’s NBA All-Star Game in his hometown. He will be joined on stage by Lil Wayne, Quavo and DJ Khaled.

The “No Problem” rapper recently spoke about how the loss of Kobe Bryant will affect this year’s All-Star events.

“NBA All-Star. It happens every year. But this year is different,” he said. “The game will have more meaning than it’s ever had before. The league, the fans, the players will all pay tribute to the legendary Kobe Bryant. For an entire generation he defined the title ‘NBA All-Star.’”

The 69th NBA All-Star Game takes place this Sunday (Feb. 16) at Chicago’s United Center.