Festival of lost is a limited-time event that is themed after Halloween. Thus it is filled with all spooky armor sets and weapons.
It will begin on October 6, 2020, and end on November 3, 2020.
It is free for everyone who wins Destiny 2. Thus one does not need the ShadowKeep or Season of Arrivald season pass to participate and unlock the rewards.
The festival of the Lost will definitely feature new triumphs and masks and a new set of mummified rewards filled with horror and all spooky things.
Recently, Festival of Lost was leaked which revealed many more things.
The promo images show a werewolf Hunter, Titan as Frankenstein’s monster, and a Dracula themed Warlock! The currency is called Candy! The leaked images reveal new Halloween costumes for each class. Further, it also reveals a witch themes shell that is completed with a broomstick and a cat for Ghost.
As the event is bound to happen in October, we won’t witness any new update from Bungie for at least another month.
It’s also important to know that the festival comes close to the release of Beyond Light, Destiny 2 which is due to drop on November 10.