A FRAG Festival usually refers to a gaming event or competition, especially in first-person shooter (FPS) games or similar multiplayer games."Frag" is gamer slang for defeating or eliminating an opponent in a game (from the word fragmentation grenade in early games).A Frag Festival would be an event—online or in person—where players compete, often in a fun or celebratory atmosphere, to get the most frags (kills) or points.