Nemesis weapons are quite similar to bane weapons in that they grant a given weapon a bonus to accuracy and damage. However, unlike bane weapons, wherein the bonus is against a particular creature type, nemesis weapons function against creatures which have a particular kind of knowledge or ability.
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A good example of a nemesis weapon is Deathbreaker, a +1 undead banenecromancer nemesis longsword. It is useful against both undead and necromancers, making it an ideal weapon for the undead hunter.