For the hearts system, you can do everything you were able to do in TF 4 to raise it, talk, duel, give gifts, etc etc
Therefore, it is important to get those monsters onto the field as fast as possible
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Lost Sanctuary is just another copy of Sanctuary that can maybe negate an effect once in a while
Xyz Monsters generally do not require specific named cards, but sometimes will gain additional effects if it has a specific card as material
Its effect, however, allows it to negate monsters card effects, including monster effects which special summon, such as Mermail Abyssmegalo