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Favor Brokers are NPCs and members of the Guild Initiative. These NPCs offer guilds to exchange the outdated guild currency Influence to the new guild currency Favor. This currency conversion was put into place with the introduction of Guild halls with the Guild Wars 2: Heart of Thorns expansion release in order for previously existing guilds to not lose on their saved up currency.
This service does not limit itself to Influence earned prior to Heart of Thorns however, Influence purchased through consumables may also be exchanged for favor at these NPCs.