Yes, Magic Legends will have a rep grind according to the game’s latest preview post. Specifically, the multiplayer ARPG’s reputation system won’t be with a particular faction so much as a specific region, unlocking 100 levels of reputations and daily quests once players have completed that region’s specific story missions.
So why go through this reputations system? For rewards, of course: Each level yields some gold and Planar Mana, while additional rewards like artifacts, spells, or themed costumed pieces based on the region are unlocked every 20 levels. On the subject of each region’s rewards, the post further offers previews of the kind of treats awaiting in each location. You can get a peek at the whole system, and make sure you also get a peek at Eliot’s hands-on impressions with the game itself.