What makes it confusing is the liberal use of benchmarks that mean something to developers, but mean very little to the players. Plus, the disconnect between an evolving development process and the information presented. So let's clear it up.
On the LIFMMO Packages you have a series of benefits.
When the development team is happy with the results of CBT5 (closed beta testing version 5), it will be closed and the game world will be wiped. This is the last time they are planning to wipe the game world.
This starts Early Access, which is estimated to last until they feel it is good enough to go to open beta. They will likely use this time to fix minor technical issues and rebalances, make a little more published for the nontest-tolerant public. The benefits of starting stage are that you get to build and effect the earth before the general public even gets a chance to play! However, expect there to be a little heartache with investment vs rebalancing.
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Package Perks:
http://lifeisfeudal.com/mmo?l=features**If you own LIFYO, you get a discount on packages AND you get one character ticket to the MMO in Early Access Stage.**
The Rest of These are Pack Specific Perks.
The first perk is "Early Access to Open Beta". This is actually out of date, by what I understand. What it actually means is "Early Access to Early Access". This means when CBT5 ends, they will stagger the flood of people into the MMO by having multiple "launch times". The more expensive your package, the earlier your launch time is. IF you have a LIFYO ticket, your launch time is the actual launch time of early access and not earlier.
Example: Early Access officially opens at 10PM on Saturday for everyone, while Zealous (gold) pack purchases can get in at 10PM on Friday. ((These times are made up))
Character Tickets are used to travel from the "Newbie World" which is essentially a testing ground with very little persistence, to the "Main World" which is where the MMO is actually hosted. To transfer a character, you will need to spend a ticket. LIFYO gets 1 Ticket, Bronze gets 1 Ticket, Silver gets 2 Tickets, and Gold get's 3 Tickets. This means you can have 1, 2, 3, or 4 characters in the main world depending on what combination of tickets you currently have purchased. I believe they intend in the future to make ticket purchasing a little more straightforward.
Gods Favor is currency you can use out of game, to buy aesthetic stuff for your character. They're stated goal is you will be able to use real world money to buy things that make you look cool.. but will not have a significant effect on your gameplay. No Pay to Win.
Reserving your character name early is self explanatory, especially if you have an extremely common name. Historically you can have the same last name, but first names are unique.
Premium Account Status as to my understanding has not been explained, I think they're still working on what exactly that means.
Newbie Tool Sets are a set of tools with higher durability than normal that makes starting out slightly less painful. They cannot be dropped on death.
Digital Copy to LIFYO, Robe, and Forum Tag Color are gold pack bonuses. Pretty self explanatory.