While the anniversary was perceived as a haphazard affair in previous years, Turbine's devs have fleshed it out to rival the other four annual festivals. The focus of the Anniversary Festival is on fireworks and lots of them. There are several new quests to discover, a new fireworks-themed mount to obtain, and beer battles to win.
Because reaching five years is a big deal for any MMO, Turbine's also showering players with free gifts if they log in during this period. The gifts range from fireworks to cloaks to a special mount that is reserved for five-year veterans of the game.
During the anniversary, monsters will drop special tokens that can be redeemed for a wide variety of prizes. There's also a double-XP weekend coming up, which will run from April 24th through the 30th.