There should be quests you can do for certain items such as unique rings/weapons/armor/etc. Like when you are on the newbie island you do a quest for some newbie armor. And when you get to the main island there will be specific quests for certain levels. Like "Slay the T-Rex" and you go and kill like 10 T-Rex' and go back to the NPC who told you to go and kill them and he rewards you with a item or experience.