Often used as a term to sacrifice yourself so some friends can get laid.
By Alex Agnew's terms it is to swallow your own sperm to get out of a sticky situation.
Go ahead guys, I'll take one for the team
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Also known as the "Volunteer's Dilemma". This is a social dilemma with several people involved and one must sacrifice their evolvement or reward for the benefit of the rest of the group.
I saw that guy really take one for the team. You must be close.