For starters, your settlement has grown, introducing a place to host these seasonal festivities. There are some games to partake in, including drunken brawls, a drinking contest, and an archery contest. You’ll earn tokens for participating in the events which you can trade to a festival merchant for rewards such as the Mōdraniht ceremonial armor set and some settlement decorations. Ubisoft note that in order to participate you’ll need to have completed either of the story arcs Grantebridgescire or Ledecestrescire which I gather pretty early on. They also remind you that you’ll only be able to nab these rewards during the Yule Festival, which has kicked off already and will last through January 7th. You can get a list of the available goodies over in Ubisoft’s post. Ubisoft have previously mentioned that they’re planning four total seasonal events throughout Valhalla’s first year with the next events dropping in spring, summer, and autumn of 2021. There’s a sneak peek at them, and the planned DLCs, in this here trailer.