I came up with this idea today while doing IB, and think it would be a nice touch of variety and thrill to the regular PvP we're all used to.
Basically, a single Hive Cleaver (like the one dropped by Blades of Crota upon kill in Old Russia or the Ocean of Storms) spawning at the altar at the center of the map shown in the picture above, shortly after a warning message by the announcer, as it happens with heavy ammo.
Once the weapon appears, a hidden countdown to its expiration begins, just like it happens with the PvE version. If the player holding the weapon is killed before the sword expires, it is dropped and can be picked up by someone else and thus wielded for the remainder time.
To balance things out, the time before the sword is automatically destroyed should probably be reduced from the amount of its PvE version.
After seeing its power in PvE, we all know that in a PvP environment it would seem to be a rather fearsome and powerful weapon, and now imagine what kind of bloody mess would result by the players swarming the altar while trying to get the sought after blade. That would be fun indeed, would it not?
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Seems... Like a legit idea