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For example the normal lvl system for any character 1-50 (pts to use in stam, skill pts and some rewards as you advance). Once someone reaches lvl 50 on a character than CP starts (Champion points system, lvl system to increase some stats by %). The highest gear is 160 CP even though the current usable CP is 810 (no real cap other than it being nice to have if they increase it later). So no one really buys any gear below 160 CP unless its for trait research, material or maybe some other niche reason (like the training trait for XP).
There is also the scaling. Having matching lvl or the 160CP (when you reach it or going beyong 160) gear will give not penalize you. So that is why its pretty odd to get gear outside of niche uses or 160 CP.
So don't expect to spam a crappy lvl 1 dagger and reach the requirement to craft 160 CP gear. You will need to deconstruct (get material and some xp) from items. However some don't give you anything other than xp (any gear without any gold vale, usually stuff lying around).
Trait research is basically deconstructing the piece and the trait researched is only for that piece.
So there are currently 8 armor slots, 3 jewelry slots and the same type of melee, bow, stave (fire, resto, lighting, ice) and shield as skyrim.
There are 9 possible traits for each one and there are three armor types. Heavy is the blacksmith crafting skill line, light and medium is tailoring crafting skill line. So for each armor type its 9*8 =72 traits you need to research. There is a timer until you its finished researching, and a limit based on a passive skill, with a max of three for each gear crafting line. It gets longer to research for the piece's trait list as you research more for that piece. So having 8/9 traits on a heavy chest piece is longer than a heavy 1/9 helm research.
This is just a bit. There is more such as enchanting and traits can help one another. Like an infusion trait (depending on the piece's status, white, green, blue, purple, gold. white is standard, and gold is legendary) will give a 50% increase to that pieces enchantments.
Enchatments work sort of the same. There are three pieces for a glyph. The level stone, the stone that indicated on what gear it can be used on and its effects, then finally quaility.
So a lvl 50 stone, stamina stone (there is one for armor or jewelry), then quality standard, green, blue, purple, gold. The quality increases the amount it gives. So it can be used on gear that is lvl 50 and above, however it scales like armor.
Honestly I will recommend reading some of these links, since this is getting pretty long of a post. I can answer any questions you might have after reading this or if you want my view on it, since I have a character with all the skills for crafting most set gear (craftable sets require a specific number of traits research).
http://teso.mmorpg-life.com/crafting-guide/
https://forums.elderscrollsonline.com/en/discussion/267778/sunshine-daydreams-guide-to-crafting-more-recent-updates
But I´ll like to add that if you want money on ESO, as far as I´ve know, adventuring a lot and selling everything you find after joining a guild with a trader or thievering are the only possibilties.
And thievering it´s great for low scale porfit, buying houses and decorating. But if you want to own style crafting stations and the end-game stuff the profit of stealing won´t be enough.
The possitive thing about how dificult is to make true money on ESO is that unless you want to a create your own guild or get too deep into PVP, you don´t really need that much money to own a few houses, decorate them, and having a good enough armor to enjoy the PvE content.