Players do not purchase gear in Open Legends RPG (OLR) as in some RPGs. They instead have a wealth level which determines their ability to purchase types of gear when they have the ability to purchase it.
Characters in OLR have feats which roughly correspond to D&D feats and class abilities, though Boons and Banes also touch on this aspect of character advancement and distinction.
Weapons and armor and other inventory in OLR are otherwise lackluster. They provide minimum modifications and character diversity.
In a game called Ironsworn RPG, characters do not have feats or equipment but assets which are divided into four categories: martial focus (or equipment), companions, paths (roughly class), and rituals (roughly magic). These assets provide characters bonuses on rolls. When characters advance, they increase the ranks in their assets and acquire new ones.
OLR’s only character advancement is to be found in attributes and better Boons and Banes and new Feats. I propose adding Assets as in Ironsworn to replace equipment and to provide more player advancement options, as well as overlapping some Feats/Boons/Banes territory. This also allows the GM to define spells through Rituals rather than leaving it completely open.
Players begin with three assets though the GM can provide more. Adventuring allows a player to acquire more, and leveling up allows a player to advance their assets’ rank.
[More work forthcoming.]