There is magic, and limited ways to use it. You can't ve a wizard.

As of right now, magic in the game is limited to:
1. portals that you can build that let you telepirt anywhere on the map to another linked portal.
2. A handful of unlocked abilities.
3. A handful of magically infused items.
4. Enemies casting spells.
5. Meads, or potions. which aren't really magic at all but if you shut your eyes and stretch really hard you can imagine it is.