WHAT IS FAME?
This is a very simple, yet good question. Fame can be a good thing or a bad thing. It's when you are known by many people-- maybe worldwide. Fame can come out of many things: maybe a famous singer, actor, doctor, preacher, king/queen, athlete, president, etc. It is also something very easy to obtain, especailly for more talented kids.
What will Fame affect?
Fame will affect whether or not other players can see your profession. If you start to become famous, everyone is going to know what you do for a living.

High fame is also a requirement for members of order or chaos guilds, and will eventually be a requirement for certain privileges, such as house or ship ownership.
SOme people do not have normal life because of fame. In my opinion it is normal.
And you do not have to panic if one day you will become famous.