This game deserves to get more attention. It's really trying to cater to the very competative players out there so it's not everyone's cup of tea, but it's also very straight forward initially. It's one of those "Easy to learn, hard to master" types.
And yes, it will be Free to Play very similiar to LoL. You can earn "Blood Coins" to buy skins, weapon skins, unlock new bloodlines, etc. I really want the game community to grow, so please give it a try! US server matchmaking is so lonely, so stick to custom games until the game grows.