Riot has trademarked the name: LEGENDS OF RUNETERRA - League MMO?
I personally don't think it's an MMO, but maybe it's something new and fresh! I'm so freaking hyped right now.
Sources:
Reddit post with some insight:
Edit:
And remember, they moved Ghostcrawler to the head of a secret project 3 months ago.
He has a history of MMOs
Again, Im not saying it's an MMO
But I wouldnt be surprised if we're getting something huge
From his offical Boards post:
"We’ve been up front that we want to put the S in Riot Games, and I am helping with that effort. In addition, we have been taking Runeterra as a world more seriously, as you’ve probably realized with the release of the Ryze CG and the world map. While telling stories is really important to us (and I hope many of you), there is a limit to the kinds of stories we can tell in League of Legends without getting in the way of a competitive, multiplayer game. So, many of our stories will have to come through other mediums, and of course that possibly includes other games."