Gatekeeper Belladonna:
Pets help their owners in a number of ways.
If your inventory is low or you have exceeded your weight limit, you can use your pets to carry some of your items. Just be careful not to use your pets too often on errands, no matter how useful they may be.
There is also something important to keep in mind when raising a pet. You can resurrect dead pets once, but there is a time limit in which to do so. If you do not resurrect pets within 24 hours, they will disappear forever. That would be very unfortunate...
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