During Festivals, you collect Festival Currency, which you trade for festival apparel and familiar. You can either fight in the coliseum for the currency (monsters of the same element and also neutral element monsters have a chance of dropping currency), or find it by gathering in the same region as the festival. The next festival is Water's, so gather in Water and fight Water monsters! : D
There will also be 6 skins and 6 accents for sale in the Marketplace that will only be available during the festival and will retire afterwards. They're 35k each, but you can get them for cheaper (29,750) by having someone from Water buy them for you (provided they win Dom the week before). We have a few TBTers in Water here, so I encourage people to ask them to buy skins/accents.
In the Coliseum and also with Digging, you can find chests containing skins. Don't open them. D: They're worth more sold unopened than the skin inside is worth.
Ways to profit from festivals:
- Sell your currency early in the week. Festivals start on Sundays and end on Saturdays at rollover. At the beginning of the week, currency can sell for over 1k each. It usually drops around the middle of the week and ends up around 400-500t each at the end. So you can either just outright sell the currency and forego the festival items, or sell them at the beginning of the week and buy them back for cheaper at the end of the week. I usually find around 1 currency for every minute, so that ends up being 60/hour. Imagine 60k per hour in profits.
- In the Item Sales forum, there will be a looooot of people buying and selling festival currency. The buyers usually set a low price, and the sellers usually have a higher price. I'd suggest either making your own thread to sell the currency at a good price, or waiting til you see a buyer with a high price.
- Related to selling currency, a ton of people trading old retired festival items and accepting currency will have threads. This is a good way to grab a lot of retired/expensive items without spending any treasure on them.
- Buy apparel/skins/accents to hoard for later. They retire after the festival, so no more will ever be released. Takes some time, but it's a good investment.
- Sell your Coli drops. After spending so many hours in the Coli, you're bound to end up with a bunch of loot to sell. : D Even the small stuff is worth a lot in large quantities.
- Train fodder dragons to exalt at the same time as farming for currency. You'll be in the Coli anyway, so why not? Especially since I've heard the best place to farm for Water's festival will be the Kelp Beds, which is ideal for training fodder.
- Do not open your festival chests. They're worth more unopened than the skin inside is worth. Sell the chest and use the money to buy the skin/accent of your choice. Or just keep the money~
- If you sell food in the AH for profits, hold off this week and probably the next. Everyone will be in the Coli getting food, so prices will drop or very few people will be buying. Try selling it again after that.
That just about covers the basics. Ask me more questions if you've got them!