this game is from the original creators of DotA(Defense of the Ancients) a Warcraft 3 expansion.
Riot Games are the creators. This is a free to play online game that has an in game store that you can spend real money on if you wish to. You can not purchase "runes" because they are to be earned through game play so the rich and poor are at the same level of skill while playing.
Actually if you buy the Collectors pack it comes with a few runes.
The game name is shortened to LoL.
Again it is a free game.
person1: "Play some league of legends?"
person2: "Lets pwn some noobs."