Blizzard said: In the second phase of the Exploration Season, we have launched a new PvP campaign called "Blood Moon". This new event brings some chaos to the Valley of Thorns, where a Blood Moon will shine over the region, casting an eerie red mist over the region. Based on what we've learned from the first phase of the Ashenvale PvP campaign, we've created the campaign to follow a more enjoyable schedule so that players can plan when they'll be able to participate. 
Event: Blood Moon Time: Every 3 hours Duration: 30 minutes Location: Valley of Thorn During the event, killing players can earn tokens that can be redeemed for various rewards. While you can still team up with your allies for events, the Blood Moon has a stern hostess who will punish those who join the team. For those who wish to live in peace and harmony with the land, you can opt out of the event by talking to the Zandala Emissary. If you opt out, you won't be able to earn any rewards from the event, and general realm PVP rules will still apply. Players can also earn two new mounts by participating in events. These level 40 mounts also have a new look. There are also new quests that will help you earn prestige in the Arathi Basin. 
If you want to buy new rewards with currency, you'll need to look for merchants outside the Gulabash Arena. Players will be able to earn new class-specific item rewards.