Receiving Royalty Tokens
Overview
As part of Royalty Tokens, we've made it easy for payees to receive their royalties on-chain using either an auto-generated Royalty Vault or their own connected Wallet. Your payees can either create a new wallet using Web3Auth (a password-less, email-based wallet creation service), or connect an existing, self-custody wallet (like MetaMask) to their portal account. This article will step through what happens when a Royalty Vault is created( as part of Royalty Token creation), and how Payees can connect their wallet and claim their balance.
Prerequisites
Talk with our customer support team about enabling Royalty Tokens for your enterprise.
Your user account must have "Editor" permissions for Catalog & Asset Management and Royalty Accounting.
Tracks you intend to tokenize must meet the following requirements:
How To: Receive a Royalty Token
Add Payees To a Royalty Token
When creating royalty tokens, you must add payees and assign their split % as you would in a regular contract. 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 on-chain to store their tokens until they create or connect a wallet themselves.
If you know the payees wallet address, you can add it manually to their account details, but be aware only the payee can update this wallet address after the token is minted.
Payee Receives an Email Notification
After the Royalty Token has been minted successfully:
Payees will receive an email notifying them about the split % of Royalty Tokens they've received for an asset.
If a Royalty Vault was auto-created for them, they’ll receive a second email with instructions on how they can claim the tokens from their Payee Portal.
Payee Creates or Connects a Wallet
In the Payee Portal, payees have two options to add a wallet:
Create a wallet using their email
Payees confirm their email address and then receive a secure verification code (2FA) to confirm it and create their wallet.
This approach is simpler than having to handle 12-word seed phrases, making it perfect for anyone new to web3.
Connect their existing wallet
If a payee already uses a wallet, they can connect it directly via our 3rd-party wallet providers (ie MetaMask, WalletConnect, Coinbase etc).
This is great for payees who are already comfortable managing their own wallet keys.
To get started, Payees simply click Claim from their Royalty Vault balance on their Payee Portal or Connect Wallet at any time from their payee settings. Once the wallet is connected, the wallet’s 0x address is saved into the payee’s account details for all future on-chain royalties and tokens to be sent.
Claiming Royalty Tokens from the Payee Vault
Once the payee has a wallet connected they can proceed in claiming their Royalty Tokens and any funds stored.
To claim, payees will need to retrieve the Royalty Vault Key from the email that was sent to them when their vault was created.
Their Vault Key is single-use only. Once they reveal their key, they will not be able to access it a second time, and we’re unable to resend it.
If a payee is unable to retrieve their Royalty Vault Key, please contact support@revelator.com for assistance to re-send their Vault Key.
Once their claim is successful, all future royalty tokens and royalty payments will be sent directly to the payee’s connected wallet address, and their Royalty Vault will be marked inactive.
Troubleshooting / Expected Outcomes
A Royalty Vault Remains Unclaimed
If a payee doesn’t set up or connect a wallet, their tokens and any related funds remain safely stored in their Royalty Vault accessible from their Payee Portal account.
Overtime, if their balance remains unclaimed, you as the admin can have their vault balance transferred manually to another 0x address on-chain or you can have it moved to traditional payment rails, such as PayPal or Tipalti.
Revelator Wallet
For an enhanced Royalty Token experience, direct your payees to download the Revelator Wallet mobile app.
iOS → Download Android → Download
Frequently Asked Questions
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