diff --git a/package.json b/package.json
index 36630b1324..e3d94d57be 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "matrix-react-sdk",
-  "version": "0.12.2",
+  "version": "0.12.3-rc.1",
   "description": "SDK for matrix.org using React",
   "author": "matrix.org",
   "repository": {