No consequence PvP?

I didn’t play alpha or beta and I only participated in a few PvP fights so far and it looks like there is zero consequence (or gain) from 1 vs 1 PvP.

I lose no items, xp or currency when I die and I gain nothing when I win.

What’s the point then? Am I missing something?

There are no consequences, bit you are SUPPOSED to receive wpn xp, player xp, tokens, and rep based on how long target was alive and if they killed others as well. That is, if you down and then kill them before they give up

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