The Kingdom of Loathing is a humorous, satirical, and most importantly free MMORPG created by Asymmetric Publications (Zack "Jick" Johnson and Josh "Mr. Skullhead" Nite). Born on January 31st, 2003 almost as a joke, it is notable for the usage of simple stick figure graphics, surreal gameplay, and its slogan, "An Adventurer is You!".
KoL is currently in open beta -- it's open to the public to play, but it's not quite finished. More features and things to do are being added on a nearly daily basis. Despite its unfinished state, it has already attracted a thriving community of interesting, intelligent, and helpful players.
KoL is, and always will be, free to play, but donations are appreciated and rewarded.
KoL is played from the comfort of your browser, and is adorned with a staggering array of stunning hand-drawn images. It is turn-based, which means you get a certain number of turns (Adventures) each day.
The description could go on forever, encompassing the economy of KoL, the events, the scandals. And maybe even the gameplay, if we have time. But really, the only way to find out what the Kingdom of Loathing is like is to play it, or as the case may be obsessively read this Wiki.
[edit] Storyline
The Kingdom of Loathing was once a pleasant place, where all the citizens loathed one another equally and nobody caused too much trouble. Under the gentle rule of King Ralph XI, peace had prevailed for as long as anybody could remember.
One fateful Porktober morning, a Sorceress came to the Kingdom. A Naughty Sorceress. A Naughty Sorceress who was clearly up to no good, and even more clearly up to plenty of bad. King Ralph sought to expel the Naughty Sorceress from his Kingdom, but she imprismed him in a black crystalline shard of curdled magic. It was very dramatic.
Monsters emerged from their hidey-holes to terrorize the citizens of Loathing, and larger monsters emerged from larger hidey-holes to terrorize those monsters, all under the control of the Naughty Sorceress.
In the King's absence, the Council of Loathing convened to attempt to impose order on the Kingdom. Their success was limited, however, to imposing their will on adventurers who came to the Kingdom seeking fame, fortune, or quality products at reasonable prices. And as you've probably guessed by now, one of those adventurers is you!