Final Fantasy 5 had the Class Change System,
Final Fantasy 6 had the Accessory System, and Final Fantasy 7 has the Materia
System.
There are 5 basic types of Materia:
Command Materia: Gives your
character new commands that are selectable in battles, including Throw, Steal,
Transform, etc.
Combination Materia: Combine with
other types of Materia for various combined effects. For example: Steal is
attained through one Materia, and when combined with a certain Combination
Materia, you can steal while fighting.
Summon Materia: allows you to
summon certain monsters. Example: Neo-Bahamut, Leviathan, Shiva and Ifreet
Magic Materia: Allows you to use
magic. Equip a character with Fire Materia and he/she can cast Fire spells,
equip one with Bolt Materia and he/she can cast Bolt spells, etc.
Independent Materia: Raises stats,
HP and MP, protection from certain monsters, etc.