• Prestige is a new form of currency that is recognized by the AFS. It is gained through the actions of your character.
• Prestige can be gained through two types of actions: PvE and PvP.
• On the PvE end, these actions are as follows:
  
  • Achieving a max kill streak
  • Killing control point minions and bosses
  • Killing standard bosses
  • Acquiring rare items off corpses of enemies youÂ’ve killed
  • Included in the reward for specific missions
• On the PvP side, Prestige can not only be gained, but lost as well:
  
  • Killing an opponent will net you prestige that is generated based on your level relationship to the player
  • You will also acquire a percentage of your opponentÂ’s prestige that is taken directly from them.
• If youÂ’re looking to add a bit more risk, youÂ’ll be able to wager an item:
  
  • Wagering an item requires that you ‘lock inÂ’ a high quality item.
  • Once locked, the item cannot be removed unless substituted with a higher quality item or an item out levelling the level of the item.
  • You will gain a boost to your prestige gain based on the quality of the item youÂ’ve wagered.
  • Dying will cause you to lose the item to your opponent.

Via Richard Garriott's Tabula Rasa