Ranks give you special perks that are designed to improve your general play style and experience on the server. These perks are friendly meaning that they are not P2W and allow every player to still obtain the perks.
Team Ranks are slightly different, they are designed for teams only, they can be purchased by 1 player and that player will need to make a ticket to have the rank applied to 5 other people.
Perks Include:
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Colored Chat
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Rank Prefix
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/hat
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/craft
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/enderchest
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/anvil
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/grindstone
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/stonecutter
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/loom
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/smithingtable
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6 Sethomes
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20 Simultaneous AuctionHouse Slots
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/nick with colors
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1 Overlord Crate Key per Week
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5x Player Vault Rows
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Kit Tier Advanced
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Lifesteal Queue Priority
These perks apply to 5 people! Make a ticket to have the rank given to the other 5.