Preseason 8 changed the way from IP to Blue Essence. You don't get IP/BE anymore for just playing games, instead you get XP to Level infinitesimal. One Level UP is 1 Capsule (which includes Shards which can be turned into BE).
I would like to see a more distinct visual Rework for my Lvl and progress towards the next to see some "monetary"/"gameplay" advancement. Right now BE feels so static with rapid high jumps on a Lvl Up.