Gilded Drake enters the battlefield, and targets Glory Seeker with its ETB ability. In response, Faith's Shield is cast, targeting Glory Seeker and naming blue on resolution.

I think that the ETB ability isn't countered, no permanents exchange control, and Gilded Drake is sacrificed. There are a few parts of this interaction I'm not completely certain about, and I wanted to check if I'm overlooking anything.

Gilded Drake's triggered ability can only be countered by spells or abilities. It cannot be countered by the rules of the game, which is normally what would happen if all of an ability's targets are illegal. So the Drake's ability resolves and you can't make the exchange (since the other target is illegal due to protection). Since you didn't make an exchange, the Drake will be sacrificed. This is addressed in the Gatherer rulings:

This ability is targeted, so Protection can prevent targeting if it exists when the ability would be put on the stack. Once the ability is on the stack, adding Protection will not counter the ability but the exchange will not take place since the target is illegal and you sacrifice this card on resolution.

Nathan Long
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