In this post, I will discuss how to set royalties on rarible. Rarible allows the artist to set royalty for even one NFT, unlike opensea. So you can set a royalty fee on a single NFT without creating a collection. Some NFT marketplaces do not allow artists to set royalty fees of more than 10%. But on rarible, there is no limit for royalty, you can set the percentage of your choice even 50%.
If you have created an NFT collection on some other platform so you can get royalties on rarible by claiming ownership of the collection on rarible. I will discuss how to set royalties when creating NFTs on rarible and when the collection is created on other platforms
How to set royalties on rarible? Step-by-step guide:
First of all, open your rarible account. You will have a create button on the top navigation.
Click on create and you will have a screen like this.
Choose your preferred blockchain to create NFT. I’m going to select Ethereum for this tutorial. After selecting a blockchain you will have two options.
You can choose single for creating one NFT and Multiple for creating a collection. In both terms, the royalty procedure will remain the same. After selecting single or multiple, when you scroll down you will have a field to set royalty fee.
Here you can set 0 to 50% maximum royalty fee for your single NFT or if it’s a collection.
How to set royalties on rarible if the collection was created on another platform:
First of all, find your collection on rarible and open this.
Claim the ownership of that collection and you will find an option to set royalties.
How to set Rarible royalties in smart contracts:
Most individual artists use rarible platform to mint and set royalties but big organizations and professionals prefer to mint and set royalties through the smart contract. Because smart contracts provide more options and customizations. The disadvantage is that, by default, royalties are not collected from some marketplaces. Rarible, OpenSea, Mintable, and others may have to be integrated to provide royalty collection functionality. If you are a developer you may find this resource helpful.
The most popular way of setting royalties is royalty percentage is not coded in the smart contract. You can follow these methods if you don’t know how to set royalties on rarible. I have covered both ways if you want to set at the time of creation or you have created your collection on another platform. If you are a developer you can follow the above link to set royalties in the smart contract.