How to set royalties externally

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Setting royalties on your collection can be done so through Rarible itself, however, there is also an option for you to set royalties for your collection externally. Please be advised that setting royalties externally can only be done on an Ethereum or Polygon blockchain. Below are the steps to set royalties for your collection externally:

Step 1: Open the royalties contract in a new tab.

Ethereum:

https://etherscan.io/address/0xEa90CFad1b8e030B8Fd3E63D22074E0AEb8E0DCD#writeProxyContract

Polygon:

https://polygonscan.com/address/0xF2514F32aE798Ca29641F6E2313bacB1650Cc76f#writeProxyContract

Step 2: Ensure that the "Contract" tab is active. There will be a green check-mark next to "Contract" if it is active.

Ethereum:

Screenshot_2023-05-29_at_17.09.29_copy_2.jpg

Polygon:

Screenshot_2023-05-29_at_17.10.48.jpg

Step 3: Click on "Write as Proxy."

Ethereum:

Screenshot_2023-05-29_at_17.09.29_copy.jpg

Polygon:

Screenshot_2023-05-29_at_17.10.48_copy_2.jpg

Step 4: Click on "Connect to Web3."

Ethereum:

Screenshot_2023-05-29_at_17.09.29.jpg

Polygon:

Screenshot_2023-05-29_at_17.10.48.jpg

Step 5: In order to set royalties for the entire collection, click on the "setRoyaltiesByToken" function. Once the view has been expanded you will be required to enter the collection's address under, "token (address)" and the tuple for royalties under, "royalties (tuple[])".

Tuple for royalties is comprised of the wallet address that receives the royalties and the percentage that the royalty will amount to. Note that the royalty percentage that you will receive is calculated based on Basis Points, i.e. 1000 = 10% royalties.

The maximum royalties amount that you can enter is 10000 = 100%.

An example of what a tuple for royalties looks like is:

[["0x6C1AaC9EAd0a2c0D328309fbb2cf940F49d26126", 100]]

In this example, "0x6C1AaC9EAd0a2c0D328309fbb2cf940F49d26126" is the wallet address that will receive the royalties and 100 is a 1% royalty amount.

An example of what the completed "setRoyaltiesByToken" function should look like:

Screenshot_2023-05-30_at_08.27.17.png

Step 6: Click on the "Write" button. Your connected wallet will then appear and you will be asked to agree to pay gas fees in order to execute the transaction. Click on "Confirm."

 

Now that you have set your royalties externally, every sale that is made from the chosen collection will transfer the specified royalty percentage to the wallet address that you selected the royalties to be sent to.

 

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