A core aspect of the game is finding and collecting items that will enhance your character in various ways. There is plenty of loot to collect in the Realm, and plenty of monsters to take it from. Naturally, more desirable loot comes from increasingly difficult areas of the game, but everything can be utilized in one way or another. For unreleased items, go to Unreleased Content.
The primary form of loot is equipment, items that can go into either your weapon, ability, armor, or ring slot. The most basic form of these are tiered drops. Tiered items have a number assigned to them that indicates how strong they are, relative to the other tiered items within their class. A T6 weapon is stronger than a T5 weapon, a T9 armor is stronger than a T8 armor, and so on.
Weapons have 13 tiers (14 counting T0 starting equipment), abilities have 6 tiers (7 counting T0 starting equipment), armors have 14 tiers, and rings have 6 tiers (7 counting the unique T0 Ring of Minor Defense).
There are other types of equipment as well. Untiered drops are special items that break from the standard tier progression. They typically only drop from a single monster, such as a dungeon boss. Rather than being a direct tier upgrade, UT items usually fulfill a more specialized purpose. Certain UTs are weak, but others are among the most highly desired items in the game.
Reskinned equipment is a type of item that is functionally identical to a different tiered or untiered item, but with aesthetic differences. These are often released for limited periods during seasonal events.
The last form of equipment is ST items, standing for either Set Tier or Special Themed items. ST items are a set of four items designed to be used together. When used in conjunction on the appropriate class, they will change the player’s skin into a 16x16 sprite and grant additional stat bonuses, enhancing the set as a whole. (With the exception of the Oryx Awesome Set, which does not confer any additional stat bonuses for wearing the entire set, although it does still transform the players sprite into a 16x16 sprite.)
Unlike equipment, consumables cannot be placed into usable slots and must remain in the inventory itself. Instead, they are used directly from the inventory to activate their designated effect, unless you choose to drop the items on the ground and then use them to keep the “Thirsty” fame bonus. Depending on the item, consumables can do any number of things, ranging from restoring or boosting your stats, permanently increasing your stat maximum, opening a dungeon portal, granting a cosmetic item, or other miscellaneous functions. Most disappear upon usage, but certain consumables can be reused.
[Wiki note: Modern tokens aren’t really consumables, at least not in the traditional sense. Should they get moved to a separate category altogether?]
Loot containers designate the type of loot found in a bag when a monster dies. Aside from the occasional treasure chest found within the main realm, loot will always come in some form of bag. Brown and pink bags drop publicly and the contents are visible to everybody. All other types of bags are soulbound, meaning it is only visible to the user who it specifically dropped for.