Okay, so yes, there's little lore based on these factions. They sprouted up mainly as people with the same ideas that wanted to push those ideas into the senate (group of leaders, not senate, some other word that's escaping my mind right now). Search up MyNameIsByf on Youtube for some awesome lore videos and you might find what you're looking for.
He actually does have some video out about faction lore for 2 of the factions, probably coming out with the third soon.
New Monarchy: https://www.youtube.com/watch?v=o2igoPumWog
Future War Cult: https://www.youtube.com/watch?v=eG6lbHLhd08
Dead Orbit: TBA
Hope this helps you deciding on which faction to choose!
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I've seen his video about factions, great video, but he talks about the same 3 paragraphs and 3 grimoire cards for each faction.
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I see. :( We don't know much more about factions... Just choose which armor sets you like more then? Each faction has some crazy weapons too. Dead orbit may have the better weapons though... Not too sure. In D1 they were all pretty balanced.
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Thanks for edit and links, haven't seen separate videos. I sympathize to FWC, I guess I'll join them.