If a monster(s) is Special Summoned, except from the Graveyard, while you control a Level 7 or 8 Dragon-Type monster: That face-up Special Summoned monster(s) has its effects negated until the end of this turn (even if this card leaves the field). Once per turn: You can send 1 other face-up card you control to the Graveyard; Special Summon 1 "Dragon Lord Token" (Dragon-Type/LIGHT/Level 1/ATK 0/DEF 0). If this card is in your Graveyard: You can send 1 Level 7 or 8 Dragon-Type monster from your hand or face-up from your field to the Graveyard; add this card to your hand.
Basically it makes REBD and BEWD immune to things like Daedalus for one turn if they're special summoned. You can also do a combo like: send face-up dimension gate to the graveyard to summon a token, bring the banished monster back then tribute both for a BEWD. Pretty darn good card.
Search for a Divine Dragon Lords deck on YouTube. You will get an idea of how to better use Felgrand Dragon along with Guardian of Felgrand and this card. Felgrand Dragon can be obtained from the dragon structure deck.
Really good card... for the Synchro Era and onward. but it's nice we got it early. Won't have any use now though since we aren't dependent on extra deck plays yet.
This card is garbage, cant even neglect enemy monster effect the turn when it summoned, only when the effect monster used it effect and got another effect on the enemy endphase. this card is worst than an N grade shit, just waste a slot on ur trap and spell