The Last Offering is an item in Otherworld Legends that can only be obtained by merging the Sacrificial Katana, the Ashen Skull and an item of your choice together.
While The Last Offering is equipped, killing an enemy has a chance to scare nearby enemies for 3 seconds. Apart from that, killing an enemy spawns five soul missiles, similar to Sacrificial Katana soul missiles, that will seek out and deal 50% of damage stat to enemies each. These red soul missiles are also capable of causing the fear effect for 3 seconds.
Category boost:[Accumulation] Each equipped item of Special Attack category, including The Last Offering item itself, provides soul missiles a bouncing from additional enemy, starting without bouncing on its own. Bounced missiles can stay in enemy sometimes. The limit is at least 5 items, including The Last Offering, which means, that with 4 additional Special Attack category items soul missiles will bounce 4 times each.
This item can be quite effective in crowded rooms, allowing you to not only deal a ton of damage and start long chain reactions just like with the Sacrificial Katana but also scare many enemies at any given time and have a much easier time in general due to having less attackers to worry about. In any case, it combines the two main items' functions into one and makes them more effective, meaning it's always worth the merge if you find the opportunity to combine these items.