Besides Tempering, Masterworking is the second new crafting system announced by Blizzard during their Season 4 Campfire Chat livestream. Both systems will replace the current “Gear Upgrade” crafting system and look to solve some of the issues around late-game item acquisition and customization in Diablo 4.
Season 4 PTR Campfire Chat Summary
Masterworking is a crafting system meant for upgrading your late-game items.