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The Advanced Wand is a tool added by Electroblob's Wizardry. It can be obtained by upgrading a Apprentice Wand with an Advanced Tome of Arcana, or found in loot chests, dropped by Evil Wizards or traded by Wizards.
It is an Advanced level wand, meaning it can cast all spells except Master spells, holds 1500 mana and has 5 upgrade slots. However, as it has no element it doesn't provide any other bonuses.