With the recent addition of player created factions XLGames finally took a step in the direction of meaningful large-scale pvp. I don't have all the details of it right now, but LlexX posted a nice link of the goha.ru forums where players explained how you can create a faction.
To create a player faction, you need to accomplish 6 tasks which involve crafting and farming.
First of all, you need to talk to the Lord of the Liberty Island to get to the "폴리 테이아 에게서" "Material from Theia" => Press Machine. [Probably used to announce your faction]
Then you need a tank and a black pearl . This is definitely not easy to get, the blueprint for the tank costs roughly 40 gold and a lot of materials, and the black pearl is not easy to get at all (blueprint involves getting a quest etc).
After this you need 3 different gliders: The butterfly(Glider of the Goddess) , bat (Glider of Moonshadow) and red one(Red Dragon). Prices range between 250 and 400 gold for each[prices edited for Ollo serverpool]
The third task is to get the red race car: which adds much more gold and materials to the requirements. It costs 50k honor to buy the blueprint for the racecar. [Note: I'm not sure if you have to specifically buy the car for honor points!]
Once you've got the car, you need to get the blueprint of a guild mansion . That is another 1000 Delphi coins, so roughly 1000 gold +/-.
Finally, the one no one could expect:
You need 5000 casino coins!. Those are obtained via the chest event on the northern continent. You get 1 coin for a small chest, 5 for a big one. The chests spawn randomly accross the whole continent between 6 a.m. and 12 a.m ingame time!
After you have all the materials, you have to find NPCs in different parts of the world
Location 1: In the port of Long Sand
Location 2: In the Steppe Belt
Location 3: In Hasla
Location 4: In Two Crowns
Location 5:In Sunrise Peninsula
When you met all these and have all the materials together, the Lord of Liberty Island can make the flag called "Флаг Тысячи поданных"(Flag Thousands Filed? Google translate fails here.) with the machine on Liberty Island.
You then take the flag to your own territory and now have the possibility to create your own faction.
Roughly 26k gold just to create your faction. Good luck, ladies and gentlemen!