Rainbow Wallet, a non-custodial wallet, is gaining attention with its community-driven initiative called Fox Hunt, which rewards users for utilizing its services. This has led to a significant increase in the number of swaps, jumping from around 10 per day to 2,200, with a remarkable leap from 100 to 2,200 in a single day.

The reward system benefits past users, particularly MetaMask users, and involves distributing Rainbow Points based on users' activities, including historical balances, swap activity on MetaMask & Rainbow, holding Rainbow NFTs, and performing bridging activity on Rainbow. Points are calculated from a snapshot taken on December 11, 2023.

Additional points are offered to users who import MetaMask wallets to Rainbow and have used its swap feature the previous year, with a chance to earn up to 150,000 points. Users can claim their rewards through Rainbow's mobile application, credited every Tuesday at 4:20 pm ET.

Rainbow emphasizes its commitment to rewarding users for various platform activities, including referrals and swap & bridge transactions, as part of its community-focused approach.

Rainbow also facilitates the management of non-fungible tokens and offers exclusive access to features like Bow, Rainbow World, and The Rainbow Poolboy.

In other news, GameFi assets may be making a comeback, following reports of an 83% rally in combined capitalization since October 30, attributed to Immutable's announcement of Immutable zkEVM, a gaming-focused layer 2 network set to launch its mainnet in early 2024. Immutable is sponsoring gas fees for users during the initiative, with game developers requiring an Immutable Passport for fee sponsorship.

Regarding Rainbow's success with Fox Hunt, it recorded a trading volume of $5.4 million in November, generating revenue of $47,000, with nearly 2,100 wallets utilizing the swap function.