Tyler Bearce has just posted a new blog article on the official site about some big changes to PvP. As the title suggests, Paid Tournaments will be replaced by Free Tournaments in tomorrow's big patch.
Instead, we’ll have 1-round Free Tournaments and 3-round Free Tournaments. Both of these tournament types will use a separate rating for the purposes of matchmaking.
Those with left-over tickets can exchange them for gold, silver, and copper Tournament Reward Chests at a new Ticket Merchant NPC in the Mists.
Not only that, but how players are rewarded will be updated as well. Winners of the 1-round Free Tournaments will receive a new Match Win Chest while the losing team will no longer receive a chest.
Another big change coming tomorrow is that Qualifying Points will be removed as a reward system. Tyler mentions that in the future, high ranked QP earners will receive a valuable in-game prize instead, but that we won't know more until later in a blog post.