How to Set or Edit Collection Royalties

Discontinuing Listing Rewards

With the switch to V2 on April 6, 2023 and to align ourselves better with the rest of the NFT market, we have removed creator royalties.

Learn more about this change on the blog. Details below are retained for archival purposes only.

How to Set or Edit Collection Royalties

Before we start

• If you're unable to find your collection on LooksRare please check to see if your contract has an owner or admin. If it does not have these, you will need to contact LooksRare to help set the initial royalties.
• If you do not have a collection and want to create one, we recommend using Manifold.

---

Using LooksRare website to set royalties

1. Open your collection management page and make sure you have connected to the site with the wallet that is the owner or admin of the contract. You can access the collection management page from the user menu by clicking My Collections.

2. Click the Manage button for the collection you want to edit or set up.

3. Scroll to the "Royalties Information" section and enter the following information:

   1. Royalties Address: This is the address where royalties will be distributed.
   2. Royalties percentage: This it the percentage of royalties that you will receive when an NFT in your collection sells.

---

Using EtherScan to set royalties

Currently the LooksRare frontend does not support adjusting royalties if you are the feeSetter, however it will be added soon. For now, it is possible to edit the royalties directly on the RoyaltyFeeManager contract through etherscan.

1. Navigate to the RoyaltyFeeManager contract on etherscan by clicking this link
2. Click on the Connect to Web3 button and connect the wallet which is the current feeSetter of the collection
3. Select the function which is applicable to your situation:
   1. 6. updateRoyaltyInfoForCollectionIfAdmin: If your contract does not have an owner or setter but has an admin
   2. 7. updateRoyaltyInfoForCollectionIfOwner: If your contract does not have setter but has an owner
   3. 8. updateRoyaltyInfoForCollectionIfSetter: If your you have already set the royalties previously and are editing them.
4. Next enter the following information
   1. collection: Your collection contract address
   2. setter: The address you would like to manage the collection in the future. Can be the same as the owner or admin
   3. receiver: The address you want to receive the royalties. Can be the same as the setter, but for operational security purposes, it is not advised to have these set to the same address
   4. fee: The royalty percentage you would like to receive. 500 = 5%, 1000 = 10% etc.
5. You can now send the transaction using your wallet and the royalties will update.

---

Using Gnosis Safe to set royalties

LooksRare frontend does not presently support Gnosis multisignature wallets. To edit royalties using Gnosis, you can do this directly from Gnosis using a standard contract interaction.

1. Click New transaction in Gnosis Safe.
2. Select Contract Interaction
3. In the contract field put 0x66466107d9cae4da0176a699406419003f3c27a8 (This is our RoyaltyFeeManager contract)
4. Click on the Method field and select either:
   1. updateRoyaltyInfoForCollectionIfAdmin: If your contract does not have an owner or setter but has an admin
   2. updateRoyaltyInfoForCollectionIfOwner: If your contract does not have setter but has an owner
   3. updateRoyaltyInfoForCollectionIfSetter: If your you have already set the royalties previously and are editing them.
5. Next enter the following information
   1. collection: Your collection contract address
   2. setter: The address you would like to manage the collection in the future. Can be the same as the owner or admin
   3. receiver: The address you want to receive the royalties. Can be the same as the setter, but for operational security purposes, it is not advised to have these set to the same address
   4. fee: The royalty percentage you would like to receive. 500 = 5%, 1000 = 10% etc.
6. You can now send the transaction on gnosis and your royalties will update.