Creating Royalty Splits
Overview
Revelator has introduced a new way for settling royalty payments in USDC using Royalty Splits—a smart contract that automates royalty distribution to multiple parties on blockchain. This article will take you through creating a Royalty Split for an eligible track in your catalog.
Prerequisites
Talk with our customer support team about enabling Royalty Splits for your account.
Your user account must have "Editor" permissions for Catalog & Asset Management and Royalty Accounting.
Tracks you intend use must meet the following requirements:
How To: Create a Royalty Split
Select a Track to Create a Royalty Split
Find a track from your catalog that meets the following requirements:
If any of the above requirements are incomplete, you will first be required to complete them before your track becomes eligible to tokenize.
Open the track and click to Create Royalty Split from the Royalty Splits summary card.
Review Track Details & Payout Rate
Track Details
You can view the currently selected tracks associated metadata by clicking on the track itself. This will open a modal window containing the tracks current metadata, credits and releases it appears on.
If you notice anything incorrect, we recommend first editing the tracks metadata before proceeding to create your Royalty Split.
Payout Rate
The payout rate is the percentage of royalties paid by the payor to the current payees on the Royalty Split contract. The remaining share of royalties is withheld by the payor.
You can set any value between 1% and 100%.
Setting a payout rate of 90%, means the payor will retain 10% of every $ earned by the track before paying out the remaining 90% to be split by the current payees on the Royalty Split contract.
Add Payees
Similar to our regular contracts, simply add payees and assign their split %. The only extra input is whether or not the payee has a wallet address connected to their account.
If a payee already has a wallet, great – their wallet address will be automatically used.
If a payee doesn't have a wallet, a Royalty Vault is created onchain to store their split % until they create or connect a wallet themselves.
If you know the payees wallet address, you can add it manually to their account details.
Review & Mint Your Royalty Split
When ready to create your Royalty Split, click Review.
You will be presented with a summary of the Royalty Split you are about to create on blockchain. It's important to review these details, and ensure the splits are accurate, as once it's recorded onchain it becomes immutable.
If everything is correct, click Create Royalty Split to queue your Royalty Split to be created.
Expected Outcomes
Royalty Split Status
After confirming to create your Royalty Split, it may take a few minutes before it is confirmed on blockchain. You can check it's status from Royalties → Royalty Splits.
Royalty Splits listed here may have the following status:
The Royalty Split has been queued and will be created within the next few minutes.
The Royalty Split is linked to receive royalties assigned to the asset it represents.
The Royalty Spit encountered an error when attempting to create it onchain.
If any of your Royalty Splits result in or get stuck for an extended period of time, please contact [email protected].
Payees Receive Royalty Splits
Once your Royalty Split has been created successfully, the payees you added will automatically receive the split % you assigned them.
Payees will receive an email notifying them of the split % they've received.
If a Royalty Vault was created for them, they’ll receive a second email with instructions on how to claim the split % and any royalties via their Payee Portal.
Learn more about Receiving Royalty Splits.
Frequently Asked Questions
Additional Resources
Payees can access and manage their Royalty Splits on Revelator Wallet
Learn more about Original Works
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