Gm creators + collectors, today’s a new day for NFT royalties.
Announcing the Genesis Reaction Registry, where artists and collectors register their NFTs to sell reaction, the Web3 equivalent of a like, emoji, or meme. Add your NFT to the Genesis Reaction Registry by June 30th, 2022 to sell reaction tokens to fans curating NFTs at launch.
Register at register.rara.social ↗.
“Reactions” are non-transferrable ERC-1155 tokens generated by an NFT’s media that are consumed by reacting to and curating third-party NFTs. Similar to a Web3 like, emoji, or meme, reactions create a permanent reputation system for NFT.
May 25th - June 30th, 2022 at 12 PM EDT (5 PM UTC)
The Genesis Reaction Registry is the first launch phase for our Social Curation Protocol for NFTs when artists and collectors register their NFTs in anticipation of selling reactions.
Register your best NFTs to gain early access to sell reactions when curation launches in July.
PFPs and Memes. PFPs that express an emotion like an emoji (😂) or meme NFTs are perfect to turn into reactions.
CC0 and NFTs with Commercial Rights*. To sell reaction tokens, NFT collectors need a copyright to sell copies or derivative work. CC0 NFTs registered in the public domain (e.g., Nouns) or NFTs that grant holders commercial rights (e.g., Bored Ape Yacht Club) are eligible to register as reactions. Search for CC0 NFTs at CC0.dev or learn more about other NFTs copyrights in our open-sourced NFT Rights Registry.
*This is not legal advice. You should review the rights granted to your NFTs and, if necessary, consult your attorney or the artists before registering an NFT.
Registering an NFT as a reaction is a new way to tap your intellectual property to generate additional social and financial capital through on-chain royalties.
For example, a single NFT may receive ~100,000 USDC in reactions before the value of the curation token (as set by the NFTs bonding curve) levels out. If a fan spends 10,000 USDC on your reaction to and curate an NFT, the Maker Reward is ~500 USDC. Multiply this by the millions of NFTs that can be curated with popular reactions and you have yourself a tidy little cash-flow machine.
Go to register.rara.social ↗.
1st, Add your NFT. Add a URL or the Contract Address and Token ID and connect your wallet to the same network as the NFT (Ethereum or Polygon).
2nd, Setup your Reaction
🦧so users can find reactions to fit their use case.
3rd, Set Royalties. If creator resale royalties are not set on-chain, add the creator’s address and set their royalty split – this allows creators to share in a percentage of the “Maker Reward” generated by the sale of each reaction.
4th, Sign Transaction. Confirm ownership via a signed transaction.
Any NFT may be registered with the protocol and sold as reactions. However, only reactions approved by the community will be available for sale in RARA’s app. NFTs may be approved a reaction for launch in the following ways:
Join our Discord server to vote for your favorite reactions.
That’s a wrap. LFRAAA!!! Register your NFTs today at register.rara.social ↗.
Got questions? Read the FAQ.
Want to know what’s coming next? Read the Launch Plan.