The following is a list of the in-game items you will come across along with a brief description as to their purpose in Skylanders Ring of Heroes.
Gems
Used in the Summon Shop.
Gold
To upgrade runes, skills, power-up Skylanders, evolve, and Awaken.
Runes
Earn from the adventure mode, distorted dimensions.
Wish Stones
To get characters, characters’ fragments.
Gear
To play in the arena.
Guild Points
Guild currency.
Omni-Gems
Earn from the realm of souls. Exchange for character fragments.
Arena Medal
Use in the shop for scrolls, shards/fragments, Omni-gem.
Red Potion
Used to level up character (useless though).
Blue Potion
Used to level up Villain.
Upgrade Stone
Used for upgrading the skills of Skylanders. This item can be obtained from the Mirage Tower mode.
Elemental Ores
You need elemental ores to evolve, power-up characters. These ores can be obtained from Distorted D-imensions mode.