A torch should give off heat#20366

To my knowledge currently the Torch does not give off any (and if, barely any) heat and is not capable of drying your player if he is Wet.

I think the Torch should be able to get rid of the Cold status effect / reduce it and dry your player more quickly.

It should also allow you to apply the same effect to other players near you, so you can dry off a friend and help him survive.

Not a bad idea and seems simple for devs to implement. If anyone is around a certain radius of the player it provides heat.