I know there are a few arenas in the game and I wondered if we can actually get tickets and sit in on bleachers to watch?
That would be pretty great though, and the ticket cash could be divided by the towns as an infusion to the game economy for more items at the crafters or outfitters as the game moves forward in time. Maybe even to afford the "production" of new armour and weapons classes for new professions. In this way even our observing the arena affects the outcome of the game. I would make tickets non-transferable so that what is generated is not for current use but part of the long-term economy.
Just some thoughts along the same lines as the original post as this could work there too, even without the pomp and circumstance of an actual arena setting.