Hey Frogboy! Tournament idea that might not cost money but will be exciting to the community

From the end of August dev journal, I've gathered that we can expect some new favor items in the future.  Any way we could have a tournament and a player/team on the winning side of the tournament would get a favor item named after them? I doubt too many of us have our names in video games we love.  I think it would be a pretty cool idea (and if desired, a nice little marketing idea... you know many other games that have ANYTHING like that available to their players?  Don't think I've ever seen such a thing). 

If I was planning the event, I'd do it exactly like this:  Announce in advance a pantheon tournament... depending on on the side that won, X favor item would be added.. if light wins, the community gets this... if dark, this.  Make the tournament week long and make some dev journals about it (and participate in it yourself, talking about why you'd like x item, etc).  THEN, have a team tournament to decide the name of the favor item.  If X team wins, then either a team name gets that favor named after them or the team puts forward an individual to have the item named after. 

To me, this sounds like a pretty easy win that will make the wait before the new Dgs go live all the faster.  What do YOU think? 

You have my brain on standby to pump some life into the community.