The War of Emperium is a game feature that allows guilds to fight in order to conquer a Castle to be the headquarters for the guild.
Owning a Castle gives your guild some exclusive benefits. Every night at Midnight server time, 4 or more (depending on the economy of the castle) treasure boxes will appear in the castle giving useful items and equipment. There is also a special Guild Dungeon accessible to everyone in the guild. These dungeons have several strong monsters that in some cases do not spawn in the normal world.