What Exactly happens when you die? Do you lose some xp or some glimmer? Do you have the view of one of you're teammates, in 1st or 3rd person, or is there a flying cam? Do you die in real life?
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I have a theory that if you are playing by yourself you respawn at your last save or checkpoint. When you are playing with other players, such as your friends, you either have to be revived by your friends or if you all die then you will all respawn at the last save or checkpoint.