Guard Hanks:
It is a tower built by the Elves who lived on this island a long time ago. As I heard it, it was erected to celebrate victory in a battle between the Elves and Orcs 2,000 years ago. At the time, the Elves won the war because Humans joined the Elven forces.
You can reach the Obelisk of Victory by following this road to the northwest. As I've already told you, there are many orcs near the tower. You must be careful, because they travel in gangs. Fighter orcs are especially brutal beasts, and will recklessly hurl themselves at Humans. Of course, they are far inferior to those Orcs that fought the Elves of the past.