Whoever held the Spun Crown at the allotted time was coronated, becoming the new King of Spun. They received the special Spun Crown LMO reward and had the opportunity of joining the prestigious roll of Spun Sovereigns by having their photo taken. The 74th and final Kings of Spun can be seen below.
To become the King of Spun one simply approached the Spun Crown and claimed it. Should the current King have more Spun Points than you, your claim would fail. The Spun Crown would always shrink during a Spun Storm and be reset at the beginning of each new Spun Harvest...