Question about Guild Wars:factions

I've never played Guild Wars, yet I don't wanna fall behind and start playing the first one since Factions just came out recently..

QUESTION: Do I need to have Guild Wars installed on my comp if I wanna play factions?

QUESTION 2: If not, Do you recommend that I play the first Guild Wars before playing Factions? I mean will it be easy to pick up never having play the first GW?

HELPFUL HINT: I played WOW for a while and just got bored of it.