diff --git a/Makefile b/Makefile
index 6c8a1b2e7c8a..e27c91ea56fc 100644
--- a/Makefile
+++ b/Makefile
@@ -1,8 +1,8 @@
 # SPDX-License-Identifier: GPL-2.0
 VERSION = 7
-PATCHLEVEL = 0
+PATCHLEVEL = 1
 SUBLEVEL = 0
-EXTRAVERSION =
+EXTRAVERSION = -rc1
 NAME = Baby Opossum Posse
 
 # *DOCUMENTATION*