The current (v1.0.82) player progression system works like this (to quote @hanlid)
The cost starts at 100 dust and increases by 200 for every other purchase to a maximum of 900 dust / spell. Basically this -> 100, 100, 300, 300, 500, 500, 700, 700, 900, 900.
*Players can earn Relic Dust in the following ways:
In Practice match against the AI:20 (win)
In Competitive or Friendly match:100 (win)
20 (win without pickups)
20 (win without taking damage)
10 (first win of the day)
10 (first match of the day)
10 (first blood)
10 (dealt the most damage)
*This means you can earn a maximum of 180 Relic Dust in your first game of the day and a maximum of 160 per game the rest of the day.
*To unlock all of the spells requires a total of 5000 Relic Dust.
*The maximum amount of Relic Dust you can hold at one time is 2000 (it used to be capped at 1000).
*If you won every game and collected all possible rewards in one day, it would take you a minimum of 32 matches to unlock everything.
*More realistically, it will take you about 40-50 wins to unlock everything.
*Once all spells have been purchased you gain access to the Inquisitor skin.Summary
: Player progression in Wands is pretty rudimentary at the moment. It gives new players something to work towards as they learn the spells and the maps, but runs out of incentives fairly quickly. Once you've unlocked everything the game no longer tracks progress of any kind (Relic Dust caps at 2000, you gain no levels, XP or rank and your win count is not recorded.) Choosing what to unlock as you go is satisfying but ends up with diminishing returns as you are likely to unlock your favorites first, leaving the spells you are least interested in to be the most expensive.