A new event is now underway in Pokemon Sword and Shield. Much like the games' recent holiday event, which brought an influx of Delibird to Max Raid dens for a brief period of time, this New Year event only runs for a few days and stars another seemingly useless Pokemon: Magikarp.

While this event may not initially sound exciting, what makes it special is that you have a much greater chance of encountering a Shiny Magikarp in Max Raids. Shiny Pokemon are exceedingly rare in Pokemon games, and any Shiny Magikarp you evolve will retains its special coloration, making this a good opportunity to add a few Shiny Gyarados to your collection.

There's another incentive to take on any Magikarp Raids you come across: You'll receive a ton of nuggets when you defeat or capture the Pokemon. These items can be sold for high prices at Poke Marts, allowing you to start the year off with some extra in-game pocket change.

As previously mentioned, the New Year Max Raid event only runs for a couple of days, from December 31 to January 3, so you'll need to act fast if you want to take advantage of it. You can read more details about the event on the official Pokemon website.

In other Pokemon news, Sword and Shield players can claim 20 free Battle Points for a limited time via Mystery Gift. There's also still time to claim a handful of rare Poke Balls and a free Gigantamax Meowth, both of which will only be available until January 15. You can see all the freebies available in Sword and Shield right now in our roundup.