Victors emblem does nothing

After the event is over, you can craft it for the winner's icon.

Q: Is there a reward for participating in the event? How do I get it? A: Yes. There’s a mission called Force of Wills in your mission log that unlocks the Victor’s Emblem. You’ll need to complete any seven missions to get it, excluding In the beginning... The Victor’s Emblem will sit in your loot inventory until VS. is over. You will then need to craft it into an icon that celebrates the reigning side.

From the FAQ http://na.leagueoflegends.com/en/featured/events/vs-2017