In the Jan 2016 Patch, a new feature called the Hall of Fame and Honor was introduced alongside the Angel buffs. I will not dive too deep into this feature, but I thought that at least the basics should be covered. The function of this feature is pretty self-explanatory anyways, so I'll simply leave images behind!
Hall of Fame will be accessible by this button on the activity map
Upon opening the Hall of Fame for the first time, these explanations will pop up. They can be re-read by a book icon in the upper right corner of the screen.
Name and real-time avatar will be shown of the #1 ranked player of each game mode. The two top guilds will be granted a place in the Hall of Fame as well.
The view can be expanded to see the entire top 3 (and only the top 3) including your own position in the ladder.
New Guild costumes can be viewed by clicking the Trophy icon in the upper right corner. The 3 best Guilds and 3 best Individuals will be rewarded. (It only seems to be available for Buster League participants though)