diff --git a/lbrynet/__init__.py b/lbrynet/__init__.py
index 4b911905d..0978c2bcc 100644
--- a/lbrynet/__init__.py
+++ b/lbrynet/__init__.py
@@ -1,4 +1,4 @@
 __name__ = "lbrynet"
-__version__ = "0.31.0"
+__version__ = "0.32.0rc1"
 version = tuple(__version__.split('.'))