Rainbow Wallet Teases Airdrop on Ethereum in ‘Fox Hunt’ Against MetaMask
The post Rainbow Wallet Teases Airdrop on Ethereum in ‘Fox Hunt’ Against MetaMask appeared on BitcoinEthereumNews.com.
Ethereum wallet Rainbow announced the launch of its Rainbow Points rewards program on Tuesday, calling it “the first step towards including our community in the future success of Rainbow”—and potentially teasing a future token airdrop ahead. All Ethereum users were airdropped points based on their on-chain activity, Rainbow said, including their wallet balance, with extra rewards for switching from the popular MetaMask wallet to Rainbow, and for holding at least one Rainbow NFT at the time holders on Monday. Rainbow’s points-based incentive model recalls that of leading NFT marketplace Blur, which stole away dominant market share from OpenSea by giving out points that eventually led to the BLUR token airdrop. Blur has since given out hundreds of millions of dollars worth of tokens to users since earlier this year. It’s considered a form of “vampire attack.” A vampire attack is when a new project or protocol provides more incentives or rewards to use its comparable service over that of an established market leader—in this case, MetaMask. Welcome to Rainbow Points — the first step towards including our community in the future success of Rainbow Every Ethereum user has been dropped points today 🌈 Claim your points and start earning more by doing the things you already do onchain pic.twitter.com/UsUOOGxC0b — Rainbow (@rainbowdotme) December 12, 2023 In its announcement, Rainbow said users who import their MetaMask wallet into Rainbow could receive up to 150,000 extra points. Rainbow “true believers,” or dedicated users of the wallet, will “get the most” points per a tweet thread. That recalls Blur’s own model, which revolves in part around a “loyalty score” for traders who exclusively use the NFT platform. In a tweet thread announcing the rewards initiative, Rainbow cheekily reframed the notion of it being a vampire attack, calling out MetaMask’s prominent fox mascot. “This…
Filed under: News - @ December 15, 2023 4:08 am