ExiledCourtney9009: So you can keep playing multiplayer over again by yourself? To extend your characters playtime?
Correct. When you defeat the final boss on level 16, everyone on level 16 will automatically leave the game, whether they want to or not. Be sure to pick up anything you want to keep before you finish that fight. If there is another player in the game, who is not on level 16 at the time of the boss's death, then that player can hold the game open and others can rejoin. If every player was on level 16, the game will close and all items on the ground will be lost.
Whether you leave the game because the game forced you out due to the death of the boss or because you chose New Game from the menu, your multiplayer character will retain his/her spells, items (including backpack), and statistics. Any items on the ground are lost. You may then create a new game, with a new dungeon and new enemies, and continue playing with that character. You may do this as many times as you wish, and it is how characters achieve the maximum character level (50). There is nowhere close to enough experience in a single game to achieve that. An advanced character, operated by a skilled player, can clear the deep floors several times in one multi-hour sitting.
Note that multiplayer does
not have a specific save function, so you
must use New Game (or Quit, which has the same effect) when you are done for the day and want to use your computer for something else. This puts a tight limit on how much equipment you can preserve long term (and led to the rise of Ulmo's Stash, among other third-party solutions).
When a character is killed in multiplayer, you do not reload from a saved game. Instead, you restart in town, and your equipped items (and half your carried gold) are left at the spot where you died.[1] You must then fight your way back to that site and recover your equipment. If you leave the game before then, your equipment will be lost.
[1] In multiplayer, dying on level 16 does not drop anything, because of the risk that you would end up losing your gear due to the death of the boss while you are trying to get to your death site.