1. The hongmoon weapon/necklace/ring/earring will be kept forever, you just keep upgrading them as you go. You just feed them gear to hit rank 5, then you need a specific item to upgrade it to rank 6. If you mouse over the empty slot it shows you what item you need and where to obtain it. Then you feed gear again from rank 6-10, then at rank 10 you’ll need another specific item to evolve it into a completely new rank 1 weapon (same weapon, new name/look and stats). Then the process repeats.
2. Unsealing charms and keys are relatively easy to get and the game gives you plenty of them, you just need to not waste them. Keys should only be used to unlock loot boxes and weapon chests that contain your specific weapon needed to upgrade (at rank 5 and 10). Also non-purple weapons are tradable so its best to find someone to trade with if you dont get yours instead of wasting all your keys.
Unsealing charms should also only be used to unseal your specific weapon/necklace/earring/ring and nothing else. The best soul shields are the ones you need to buy with valor stones so its pointless to waste your charms on any other soul shields. Also they can be crafted by a profession (I forget the name in our version) and keys can as well so you can do that if you run out quickly.
3. This game isn’t P2W, and the definition of P2W means paying to buy the best gear. Are there gems in the shop? Yes, but those are triangle gems. The way gems rank is Triangle<Square<Pentagon<Hexagon. Not to mention you get tons of square pieces as you quest so it’s quite easy to make those same gems but with the stronger square version, and hexagon ones are in daily dash.
Besides gems theres nothing else in the shop that would even borderline P2W. And most stuff in the NCoin shop is also in the Hongmoon coin shop, so you can just buy the same things for free since they drop ingame or you can sell gold for Hongmoon coins.
4. ***Best tip*** If you plan to eventually buy all 7 character slots, get the master pack. If you plan to eventually buy premium, get the master pack. If you ever plan to buy NCoin, get the master pack. If you want exclusive costumes, get the master pack. There literally is no better deal than the master pack, unless you will only be playing this game casually the master pack is a must have. 3 months of free premium ($45) + 7200 NCoin ($90) + 5 character slots ($50 assuming each is $10) + Booster pack (A little over $30 in dragon pouches alone) + Exclusive costumes (your own value, but they won’t be obtainable ever again)