Here is a description of what took place in heaven when Jesus raised from the dead. Namely, that the Father has given the Son (1) all authority to rule in heaven and on earth, to reign and to judge, (2) to receive the cosmos as His inheritance, and (3) to be the object of worship for all creation. Another way to express it as that in Revelation 5, the Lamb is declared to be the Lion of the Tribe of Judah, the true Son of David, and is coronated King of the Universe.
This was not a promotion for Jesus ontologically, from a lesser being (human, angelic or otherwise) to now having God-status. Jesus was God in the beginning (John 1:1); there never was a time when the Word was not or that the Word was not fully divine. But, having been made flesh and in human likeness (John 1:14; Phil. 2:6-8), having lived the life of the perfect Man in submission to God (John 8:27-29; Heb. 2:17-18), having atoned for man’s sin by His death on the cross (Isa. 53:4-6; Rom. 3:25-26; 1 Pet. 3:18; 1 John 2:2), having conquered death and the grave (Acts 2:24; 1 Cor. 15:54-57; Rev. 1:18) Jesus restored the rule and dominion that humanity lost and forfeited in the Fall (Ps. 2:7-9; Dan. 7:13-14; Mat. 18-20; Acts 2:32-33; Phil. 2:9-11; Heb. 1:5).
This interpretation establishes Revelation 5 as a past event. This means that the opening of the seals and the corresponding judgments (Rev. Ch.’s 6-8) have at the very least started to unfold at the time of Jesus’ resurrection. Jesus has already begun to reign in these “last days” (Acts 2:17-18, 29-33), subduing the earth through the agency of the Church (Mar. 28:18-20; Eph. 1:19-23), spreading the saving knowledge of Him and of His glory, making worshippers of all peoples (Isa. 11:9; 42:6; 49:6; Hab. 2:14; Mal. 1:11; Rev. 7:9), and reconciling lost humanity and fallen creation to Himself (Rom. 8:18-25; Eph. 2:14-18; Col. 1:19-20), as well as judging rebellious nations and making His enemies His footstool (Ps. 2:7-12; 110:1-2). This is not to be confused with the final tribulation to come immediately preceding His return, or to the full consummation of His reign, or that of His union with the Church. But it marks the beginning of the Messianic Age, and the rule of King Jesus over the earth.
Revelation 5:1-14 (NIV)
5 Then I saw in the right hand of him who sat on the throne a scroll with writing on both sides and sealed with seven seals. 2 And I saw a mighty angel proclaiming in a loud voice, “Who is worthy to break the seals and open the scroll?” 3 But no one in heaven or on earth or under the earth could open the scroll or even look inside it. 4 I wept and wept because no one was found who was worthy to open the scroll or look inside. 5 Then one of the elders said to me, “Do not weep! See, the Lion of the tribe of Judah, the Root of David, has triumphed. He is able to open the scroll and its seven seals.”
6 Then I saw a Lamb, looking as if it had been slain, standing at the center of the throne, encircled by the four living creatures and the elders. The Lamb had seven horns and seven eyes, which are the seven spirits of God sent out into all the earth. 7 He went and took the scroll from the right hand of him who sat on the throne. 8 And when he had taken it, the four living creatures and the twenty-four elders fell down before the Lamb. Each one had a harp and they were holding golden bowls full of incense, which are the prayers of God’s people. 9 And they sang a new song, saying:
“You are worthy to take the scroll
and to open its seals,
because you were slain,
and with your blood you purchased for God
persons from every tribe and language and people and nation.
10 You have made them to be a kingdom and priests to serve our God,
and they will reign on the earth.”
11 Then I looked and heard the voice of many angels, numbering thousands upon thousands, and ten thousand times ten thousand. They encircled the throne and the living creatures and the elders. 12 In a loud voice they were saying:
“Worthy is the Lamb, who was slain,
to receive power and wealth and wisdom and strength
and honor and glory and praise!”
13 Then I heard every creature in heaven and on earth and under the earth and on the sea, and all that is in them, saying:
“To him who sits on the throne and to the Lamb
be praise and honor and glory and power,
for ever and ever!”
14 The four living creatures said, “Amen,” and the elders fell down and worshiped.