The Rapha Festive 500 started years ago as a way to motivate riders through the cold, winter months of the year. For the past few years, Zwift has been doing fun things to help riders complete this iconic event indoors.
Rapha Festive 500 is a challenge with the goal of riding 500km(or ~310 mi) from December 24th through December 31st. Some riders choose to complete it all in a few days, others take their time. To complete the distance in the designated time, riders would need to ride 62.5km a day, or 38.8 mi. The challenge can be completed with the combination of both indoor and outdoor riding.
As with every year, an in-game kit will be available for unlock. However, there is some controversy around how riders unlock the kit this year. For the first time in history, the Rapha 500 kit will be available for unlock with the completion of just ONE Rapha Festive 500 event. For some, this is a welcome change. For others, this might ruin the incentive to try and achieve the kit.

Groups rides will be scheduled throughout the duration of the series to help riders complete the series. Zwift also suggests that riders ride with RoboPacers to help pass the time.
In order to sign up for this challenge, head to the Strava page: https://www.strava.com/challenges/rapha-festive-500-2022. To browse all upcoming Rapha Festive 500 Zwift events, head over to this Zwift page: https://www.zwift.com/rapha-festive-500