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In this developer journal, the team from Funcom lays out the Vertean Rewards system, how it works and what items will be available to players to reward them for their loyalty.
Sticking with the game over a longer period of time should yield rewards, right?
That is why the Age of Conan developers are now introducing Veteran Points to the game. This will give players who have subscribed to the game for a certain amount of time a wide choice of different rewards to choose from. From exciting new pets to useful new equipment, the rewards are many and you have the power to choose.
These rewards are available at new vendor NPCs in-game and will offer a wide range of items, options and services that will only be available to veteran players.
The idea behind the veteran items is not to create items that make characters more powerful, but to offer convenience and social items for veteran players to enjoy, either to offer things like better travel options for their characters or to make things a little easier when they start a new alt character.