what do you gain from alliance war?

I have ordered CE but it hasn't arrived yet so I am pretty new to factions.

I know that you can gain faction which you can turn into material for armor, and you can capture cities by donating factions to your guild, so other then those, why do I have to play the alliance war? Do I gain something for myself like fame and emote from HOH ? I can't think of a reason to convience myself of playing the alliance war.

Besides that 12 v 12 has the potential to be a lot of fun, there is no other reward. Maybe it awards a title, not sure though.