Obelisks in Immortal Unchained act much the way Bonfires did in Dark Souls. They are used as checkpoints to save progress, as well as upgrade your character and Weapons.
Using a Obelisk does the following:
- Saves Game
- Respawns enemies
- Allows you to change your Weapons
- Allows you to Upgrade your Weapons
- Allows you to Level Up