You can only become the monarch as the result of a card that introduces the monarch mechanic, and, as long you are the monarch, you can draw a card at the end of your turn
Despite the card coming into play tapped after the third turn of the game, the sheer amount of versatility it offers more than makes up for this drawback
In standard it was the core to the aptly named Puresteel Paladin deck, using its main ability to draw into more action and later on the metalcraft ability to cheat out on some equip costs, but it has also seen play in Cheerios, a deck based around 0 mana artifacts and Paradoxical Outcome to eventually cast Grapeshot, and most recently in Hammer Time, which focuses on Colossus Hammer, where Puresteel Paladin once again comes in to both help circumvent equip costs
While Demons are usually black in Magic , he works with red Demons like Balor, and gets along with blue Demons, too
FINAL FANTASY V This is the first Universes Beyond set legal in all formats