Updated (June 29th, 2022) - This post has been updated to reflect the the Genesis Reaction Registry is being extended for overtime until Thursday, July 14th, 2022.
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 July 14, 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.
What is the Genesis Reaction Registry?
May 25th - July 14th, 2022 at Midnight - 12 AM EDT (5 AM 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.
What NFTs to register
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.
How artists and collectors earn money
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.
- Increase the popularity of the underlying NFT. With every NFT-backed reaction sold, the value of your NFT increases.
- Make money selling reactions, not the underlying NFT. Fans can buy an unlimited amount of reactions for 1 $USDC each to burn on and curate other NFTs. NFT artists and owners share the ~5% “Maker Reward” of reaction sales based on 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.
How to register
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
- Reaction Name. Give your reaction a name like “Mr. Jenkins” for BAYC #1798.
- Tag (Optional). Add search tags like
baycor🦧so users can find reactions to fit their use case. - Reaction Border (Optional). Check this box to remove the white border and shadow effect
- Custom Artwork (Optional). Check this box to request custom artwork for your NFT (e.g., you want to add a “GM” talk bubble to a PFP).
- Email (Optional). - Stay up-to-date on the status of your reaction and RARA.
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.
How reactions are approved
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:
- Genesis NFT Holders. Holders of RARA’s Genesis GM, Genesis Curator, or Genesis Fan NFTs can register 3 NFTs for auto-approval.
- Reactions of the Week. As reactions are registered, we’ll add them to our Discord server as emojis for community voting. The top 10 most used reactions will be approved for launch.
- Fan Favorite. Weekly poll for top 3 favorite reactions.
- Curated 888 Reaction Packs. Starting today, 8 Curators in Residence will be able to curate 8 artists who may submit 8 or more NFTs to the reaction registry for auto-approval. The first three curators are lwsnbaker (RARA’s founder) and two of RARA’s top curators from the NFT RA!CE, Zak Kenny and Robyn Marie Hill (f0xapocalypse.ETH). More reaction curators are to be announced.
Join our Discord server to vote for your favorite reactions.
That’s a wrap. LFRAAA!!! Register your NFTs today at register.rara.social ↗.
Resources
Got questions? Read the FAQ.
Want to know what’s coming next? Read the Launch Plan.
Want to learn more about curation incentives and how the protocol works? Read the Loud Paper and Transforming NFTs into Reactions.
Stay up to date by signing up for email updates at RARA.social and following @rara_social on Twitter. Join the conversation in our community on Discord at RARA.house.