Creation

The unique piece that you create that can be made into a NFT.

Edition

This is an NFT that represents a copy of a Creation. Each edition will have a unique number associated with it. A Creator can mint between 1-10,000 editions per Creation.

Marketplace

The secondary marketplace where NFT owners can resell their NFTs. Only NFTs minted on the Rally sidechain can be sold through the marketplace and these NFTs cannot be bridged out to sell in mainnet marketplaces.

Primary Sale

This is the first sale from the creator.

Secondary Sale

This is any subsequent sale initiated by the owner of the NFT.

On Rally, you will have the ability to earn money on all primary and secondary sales of your NFT. In both cases, you can determine the percent of revenue that comes back to you the creator, and also any other account that you’d like to benefit from your sales, such as any artists or musicians you collaborated with, a cause you care about, a business partner, etc. Anyone you wish to share your earnings with will have to have a Rally account in order to earn royalties. 

When you set up your NFT you will have the opportunity to designate both primary royalty and secondary royalty percentage amounts. The default for primary royalties is 100% to the creator. The typical secondary royalty is 10% (note: this percentage will be public).

You can choose to set your secondary sales royalties to whatever you wish. We recommend you consider how your royalties might impact future sales, as it might demotivate buyers and cannot be changed once the NFT is minted.