Warlock and the Infinity Watch was a superhero team book that spun off from the events of 'The Infinity Gauntlet' and ran for 3 and a half years. The team was led by Adam Warlock, who had retrieved the Infinity Gauntlet from Thanos and, by order of The Living Tribunal (in issue #1 of this series) must disperse the gems as for the safety of the cosmos they may no longer be used together. In issue #2 Warlock assembles his team: Pip the Troll (given the space gem), Gamora (given the Time gem), Drax the Destroyer (given the power gem) and Moondragon (given the mind gem). Warlock keeps the soul gem to himself and gives the reality gem to a secret sixth unofficial team member. This last team member we never see with/using the gem except for in an issue of 'Cosmic Powers Unlimited' in a story completely unrelated to anything Infinity Watch. The INfinity Watch is housed on Monster Island, right in its ruler, The Mole Man's castle. The Mole Man, within the boundaries of this series, is temporarily taking a leave of absense from villainy and would just like to have friends around; both for social reasons and to help protect his sovereign nation from repeated incursions from the United Nations.
Midway through the series a new member is added, Maxam; an amnesiac time traveler from the future who Gamora has a precognitive flash will kill Warlock. Maxam eventually is given the time gem when Gamora leaves the team. When the team disbands in the final issue, Maxam returns to the future and has not been seen in the Marvel universe for the decade-plus since.
While the team consists of no 'A-list' characters, Marvel's two following epic line-wide crossovers 'The Infinity War' and 'The Infinity Crusade' would largely revolve around this team. Throwing these semi-obscure characters into the front and center of the Marvel universe likely helped make the title last as long as it did but ultimately could not sustain it for the long run.
Much of the series is written by Marvel's go-to cosmic scribe and Warlock's greatest storyteller (though not creator), Jim Starlin.
Note: After the cancellation of this series there was a backup story in 'Cosmic Powers Unlimited' featuring Pip, Drax and Moondragon wherein some plot threads involving Drax and Moondragon and how they are left at the end of the series are tied up.