Not bad for a first post-- welcome!
You combine a lot of powerful effects in there, but they don't really synergize too well. On one hand, the math adds up-- hourglass costs 4, nightfall costs 3, let's tack on an extra 1 for immaterial. It balances! In fact, it's like combining three cards into one, so you even get card advantage! By that metric, this card might be looking a bit too strong.
But on the other hand, the complexity doesn't really work out-- where would you use this? It's just too expensive/slow to really be considered efficient-- if your aim is the draw effect to speed up your deck, by the time you're able to leverage the draw effect, the game's probably already been decided -- plus, there's sundial, which both draws with light quanta and is much much faster (I know you said you wanted mono light to be given an in-element card draw, but forum definitions aside, most people will already think of sundial as a go-to for
quanta usage and draw effects). If you use it for the buff effect and rushing, you might want to just spend the quanta on light creatures instead, since they'll get more damage out faster anyways.
An axiom in deckbuilding is that the more complex you try to make your deck, the harder it is to balance well; the same applies to card design. Your design process with basing it off of an existing template first is spot on, but try to tweak the numbers first before you go for the effect additions/changes. Of course, the logical extreme of that would be just to create the exact same clone of a card but just in a different element-- that's certainly not what we're going for. My usual process is to start with the mechanic, look at existing similar examples, and run from there.
