New equipment (known as Stigmata), weapons, and Valkyries can obtained either through in-game crafting or through a gacha system. Valkyrie stats and skills can be changed with various weapons and equipment, which can be improved by using in-game resources.

The two additional types, Quantum and Imaginary, are disadvantaged over each other, neutral towards the above three types, and advantaged over themselves. The three main types, Mech, Biologic, and Psychic, are based on a rock-paper-scissors-based system, wherein types are advantaged and disadvantaged depending on both the enemy type and their own type.

Each Valkyrie has unique attack, evasion, switch, and ultimate skills, as well as a type. During battle, players may freely switch between characters and move around the battlefield. Honkai Impact 3rd has players control a team of up to three characters, known as Valkyries, in real-time combat against various enemies. In-game, the term 'Honkai Impact' (also 'Honkai Eruption' or 'Honkai Outbreak') refers to a large-scale Honkai disaster that coincides with the birth of a Herrscher. The 'Impact' part of the title is absent from both the Chinese and Japanese versions, and is only used in English marketing. The word 'Honkai' based on the Japanese 崩壊 (ほうかい, 'collapse' or 'decay'), pronounced 'hōkai', which is the direct translation of the Chinese 崩坏 (bēng huài) used in the original Chinese title. In addition to the game, the storyline of Honkai Impact 3rd spans multiple supplementary media including a series of animated shorts, multiple manhua series, and promotional videos. The game is notable for incorporating a variety of genres, from hack and slash and social simulation, to elements of bullet hell, platforming, shoot 'em up and dungeon crawling across multiple single and multiplayer modes. It is the spiritual successor to Houkai Gakuen 2, using many characters from the previous title in a separate story. 'Collapse 3rd') is a free-to-play 3D action role-playing game (originally a mobile exclusive, later ported to Microsoft Windows) developed by miHoYo, published by miHoYo in mainland China and worldwide by Cognosphere, d/b/a HoYoverse. Honkai Impact 3rd ( Chinese: 崩坏3 pinyin: Bēng Huài 3 lit.

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