"Owning parts of the world through..."

Praetoriani

In the 'features' I read something about 'owning' parts of the world through several means. Having only recently read about Spellborn, and I can't find a lot of information about it - I was wondering, in exactly what way will 'player-owning' parts of the world play out? 

I'm pretty sure there are no player cities of player housing or I'd have been on it for ages. So in what other way? Also, are there (extremely) rare items to collect and trade?

 

Thanks for the info.