There’s “perpetual” servers where your character state is saved, so basically like an MMO. That kind of exists in Warband right now. You might be interested: FAQ: How To Play Usb Flash Drive In Car? Can you play Mount and Blade Bannerlord co-op?
In the current state of Early Access, the only way to play Multiplayer is through an official server hosted by taleworlds. It involves a plethora of both old and new features, some which have caused controversy. Multiplayer is a feature that returns in Mount&Blade II: Bannerlord. After entering the server, the player chooses between two factions. In Mount&Blade: Warband, it allows the player to fight against other players or bots (computer-generated and -controlled opponents) in a selected map with seven game modes. Multiplayer is a major and core addition to the Mount&Blade series.